Kalshi Joins Coinbase in Push for US Stock Perpetual Futures
Kalshi has filed with the US regulatory bodies to offer perpetual futures tied to individual stocks, joining Coinbase in an effort to bring crypto-style derivatives to traditional equity markets.
The prediction market submitted a proposed rule change to the Securities and Exchange Commission (SEC) on Friday, also submitting it to the Commodity Futures Trading Commission (CFTC) for approval. The CFTC has yet to approve the proposal, which would allow perpetual contracts with no preset expiration date and periodic funding payments between long and short positions to keep prices aligned with underlying stocks.
Kalshi's proposed contracts would be treated as security futures products and cleared through its CFTC-registered clearinghouse, Kalshi Klear. The filing comes the same day Coinbase submitted a separate proposal for similar perpetual futures, both companies looking to bring popular derivatives from crypto markets to traditional equities.
Kalshi already offers perpetual futures tied to cryptocurrencies in the US, including Bitcoin (BTC), Ether (ETH), Solana (SOL) and XRP (XRP), after receiving CFTC approval for its BTC perpetual contract in May. Payward, the parent company of crypto exchange Kraken, also filed through its Bitnomial Exchange to offer the products, with plans to make them available on Kraken.