Kalshi Joins Coinbase in Offering Perpetual Futures for US Stocks
Kalshi has filed to offer perpetual futures tied to individual US stocks, joining Coinbase in the competition to bring crypto-style derivatives to traditional equity markets.
The prediction market filed the proposed rule change with the Securities and Exchange Commission (SEC) on Friday. The SEC referred it to the Commodity Futures Trading Commission (CFTC) for approval, which has yet to be granted.
The proposed contracts would have no preset expiration date and use periodic funding payments between long and short positions to keep their prices aligned with the underlying stocks. Kalshi said they would be treated as security futures products and cleared through its CFTC-registered clearinghouse, Kalshi Klear.
Kalshi already offers perpetual futures tied to cryptocurrencies in the US, including Bitcoin (BTC), Ether (ETH), Solana (SOL) and XRP (XRP). The company received CFTC approval for its Bitcoin perpetual contract in May.