- Polymarket announced on Tuesday that perpetual futures trading with at least 10x leverage is coming to its platform.
- Chief rival Kalshi also plans to roll out crypto trading, providing U.S. users access to perpetual futures, as reported.
- Both platforms, operating under the CFTC’s Designated Contract Markets framework, are expanding from basic prediction markets into sophisticated derivatives.
Polymarket revealed its push into leveraged perpetual futures this Tuesday, setting the stage for a direct clash with its main competitor, Kalshi. This move significantly expands both companies’ business models far beyond their roots in political and sports betting.
Polymarket’s post indicated users can speculate on assets like Bitcoin and NVIDIA stock with high leverage. Consequently, this development arrives as interest in perpetual contracts grows within the crypto sector.
Meanwhile, the firms can legally offer these derivatives under the CFTC’s existing regulatory framework. It remains unclear whether Polymarket’s new feature will launch on its U.S. platform, its international site, or both.
This competitive Dash mirrors previous industry moves, such as when Kraken and Coinbase launched similar U.S. futures products last July. However, the timing also coincides with legal scrutiny for crypto exchanges offering prediction markets in New York.
Recent market enthusiasm has been partly fueled by decentralized exchange Hyperliquid, which processed $148 billion in derivatives volume last month. In February, Hyperliquid noted “extensive user demand” for prediction-style instruments in an X post.
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