Kalshi has filed with U.S. regulators to launch perpetual futures contracts linked to individual U.S. stocks, a move that would extend a crypto-style derivatives structure into traditional equity markets. The company’s proposal was submitted to the Securities and Exchange Commission as a rule change and simultaneously sent to the Commodity Futures Trading Commission for review, according to the filing. The development arrives as Coinbase has also put forward a separate plan to offer single-stock perpetual futures. Both efforts point to growing competition among regulated crypto derivatives venues to adapt perpetual contract mechanics—particularly the use of ongoing funding payments—to equity instruments. Key takeaways Kalshi filed a proposed rule change with the SEC and submitted the related materials to the CFTC to enable perpetual futures tied to specific U.S. equities. The contracts would have no fixed expiration date and would use periodic funding payments between long and shor...
Kalshi has filed with U.S. regulators to launch perpetual futures linked to individual US stocks, extending the “crypto-style” derivatives model into traditional equity trading. The prediction market operator submitted its proposed rule change to the Securities and Exchange Commission (SEC) and separately to the Commodity Futures Trading Commission (CFTC) for approval on Friday, with the CFTC still pending a decision. The proposal would create contracts without a preset expiration date and would rely on periodic funding payments between long and short positions to keep the futures price aligned with the underlying equities. Kalshi said the products would be treated as security futures and cleared through its CFTC-registered clearinghouse, Kalshi Klear. Key takeaways Kalshi filed for single-stock perpetual futures with the SEC and CFTC; CFTC approval is still outstanding. No expiration date : contracts would remain open-ended, with periodic funding used to maintain price alignment....