Kalshi, Coinbase, Bitnomial Vie for Stock-Perpetuals Regulatory Approval
Kalshi is racing to bring crypto-style perpetual futures to major U.S. stocks and ETFs, joining Coinbase and Bitnomial in a regulatory battle for approval.
The company filed proposed rules with the SEC and CFTC on September 18, seeking to offer trading hours from 6 p.m. ET Sunday to 5 p.m. ET Friday, except for a one-hour maintenance window each day.
Kalshi's proposed contracts would settle in cash rather than through delivery of underlying shares, with funding payments made at 4 p.m. ET. The company is proposing a minimum customer margin of 15.50% of the position's current market value.
Coinbase and Bitnomial filed competing proposals on the same day as Kalshi, both seeking to offer cash-settled perpetual futures tied to individual stocks and ETFs.