Kalshi Seeks Approval for Perpetual Futures Trading on US Stocks

Kalshi is pushing to bring perpetual futures trading to US stocks, seeking approval for about 60 contracts tied to major companies like Tesla, Apple, and Nvidia.

The proposed products would allow traders to bet on whether an asset will rise or fall, often using borrowed money, with the option to trade 24 hours a day, seven days a week.

Kalshi already has experience in regulated crypto perps, having received approval from the CFTC for its Bitcoin perpetual contract in May. However, single-stock perps face a tougher regulatory path, requiring approval from both the SEC and CFTC.

Citadel Securities warned regulators that equity-linked perps could create a 'parallel shadow market' outside normal stock market oversight, while critics have raised concerns about potential losses for retail investors due to leveraged positions at any hour.