Kalshi Seeks CFTC Approval for Perpetual Bets on US500 and Copper

Kalshi, a CFTC-registered designated contract market (DCM), has submitted two filings to the Commodity Futures Trading Commission (CFTC) for approval. The company seeks to list perpetual contracts on the US500 index and copper prices.

The proposed US500 contract would track the MerQube US Large Cap Index, a benchmark made up of 500 of the largest U.S.-listed companies. Each contract would equal $1 per index point and trade from Sunday evening through Friday afternoon with cash payments rather than stock delivery.

Kalshi's copper perpetual contract (COPPERPERP) would track copper's spot price in dollars per pound using a price feed from Pyth Network. The contract represents 1,000 pounds of copper but settles only in cash. Kalshi proposes a 25,000-contract cap on net long or short positions with exemptions available for legitimate hedging and spread trades.