Bitget Brings Dogecoin Perpetuals to US Traders on Kalshi

Bitget has introduced fully regulated perpetual contracts for Dogecoin (DOGE) on its platform, Kalshi. This move is significant for US traders as it offers a domestic alternative to offshore exchanges.

The new contracts have a fractional format, with one contract equivalent to just 10 DOGE, and leverage limits of 3.8x for long positions and 2.8x for short positions. Quotes are tied to CF Benchmarks' DOGEUSD_RTI spot index, and settlements run around the clock.

The introduction of onshore perpetuals brings tax benefits for American traders, as profits from these contracts fall under Section 1256 of the U.S. Internal Revenue Code. This means that 60% of income is taxed at the lower long-term capital gains rate, while 40% is taxed at the short-term rate.

Kalshi has seen significant growth in its perpetual futures market, with over $5.5 billion in cumulative trading volume generated since its summer debut. The platform plans to scale its VIP volume-based rewards program and is preparing applications for similar futures on metals and the US500 stock index.