Polymarket Launches Perps Platform, Competing with Kalshi in Derivatives Market
Polymarket has launched its Perps platform, offering perpetual futures contracts on various assets. The platform went live on September 3 and covers nine markets, including BTC, ETH, SOL, gold, silver, WTI crude oil, the S&P 500, the Nasdaq 100, and SpaceX shares (trading under the ticker SPCX). International users can trade with up to 20x leverage.
The Perps platform allows positions to stay open indefinitely, funded through periodic payments that keep the contract price anchored to the underlying asset. Polymarket is pitching its platform as having the deepest liquidity and lowest fees available.
However, one major caveat is that US users are locked out entirely due to a 2022 settlement with the Commodity Futures Trading Commission (CFTC) that still casts a long shadow.