Kalshi Seeks CFTC Approval for Perpetual Futures on US Stock Index and Copper

Kalshi, a prediction-market platform, has filed an application with the US Commodity Futures Trading Commission (CFTC) to list perpetual futures tied to a US stock index and copper prices.

The proposed products include the US500 contract, based on the MerQube US Large Cap Index, which tracks the performance of 500 large-cap US-listed stocks. The COPPERPERP contract would track spot copper prices in dollars per pound using Pyth Network's XCU-USD price feed.

The CFTC approved Kalshi's listing of perpetual futures tied to Bitcoin's price in May, but that approval remains under legal challenge. CME Group sued the CFTC in June, alleging that the commission violated the Commodity Exchange Act when it approved perpetual futures products from Kalshi and Coinbase.