- Prediction market exchange Kalshi plans to introduce cryptocurrency perpetual futures contracts.
- The move marks a major shift from its core event-based derivatives business toward continuous financial markets.
- Kalshi holds a CFTC license, positioning it as a compliant US alternative to offshore platforms.
- Perpetual futures trading volume remains significant, reaching nearly $20 billion on Tuesday.
According to a Tuesday report, US-regulated prediction market exchange Kalshi is preparing to expand into cryptocurrency trading by introducing perpetual futures contracts. The Information cited sources saying the platform plans to offer “perps” on assets like Bitcoin. This move signals a strategic shift beyond its original event-based derivatives business.
Perpetual futures are derivative contracts that allow continuous price speculation without an expiration date. Popularized in crypto by exchanges like Bitmex, they typically include leverage and avoid the need for periodic contract roll-over. Consequently, Kalshi’s expansion could broaden its appeal to both retail and institutional traders.
The exchange is regulated by the US Commodity Futures Trading Commission (CFTC). This distinction positions it as a compliant alternative to offshore crypto derivatives platforms. CFTC Chair Michael Selig has indicated such products could become available domestically soon, as regulators seek to bring more trading volume onshore.
Meanwhile, competition in the perpetual futures segment is intensifying. Crypto exchanges like Coinbase and Kraken have launched similar products for non-US residents, expanding into tokenized stocks and equities. Although daily volumes are roughly half their peak, data shows they still reached nearly $20 billion on Tuesday.
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