Kalshi has filed to offer perpetual futures with individual US stocks, joining Coinbase in bringing crypto-style derivatives to traditional equity markets.
Prediction market filed Proposed rule changes with the Securities and Exchange Commission and submitted to the Commodity Futures Trading Commission (CFTC) for approval on Friday. The CFTC has not yet approved the proposal.
The proposed contract would have no predetermined expiration date and would use periodic fund payments between long and short positions to keep their prices in line with the underlying stock. Kalshi said the contracts will be treated as security futures products and cleared through the CFTC-registered clearinghouse, Kalshi Clear.
The filing comes on the same day that Coinbase submitted a separate proposal to offer perpetual futures tied to individual US stocks, as both firms look to bring a popular derivative product to the crypto market on traditional equities.
After receiving the CFTC, Kalshi already offers perpetual futures linked to cryptocurrencies in the US, including Bitcoin (BTC), Ether (ETH), Solana (SOL) and XRP (XRP). approval for its Bitcoin Perpetual Contract in May.
Related: DoubleZero has added Kalshi election market data ahead of the US midterms
U.S. stock futures extend perpetual race
Kalshi and Coinbase were not alone in filing to bring single-stock perpetual futures to the US market. Payword, also the parent company of crypto exchange Kraken filed Kraken plans to make the products available to US traders through its bitnomial exchange.
Payword said It initially plans to offer perpetual futures linked to 10 US equities, including Tesla, Nvidia, Apple, Microsoft and Amazon, and is working towards 24/5 trading.
The filings come days after the Clarity Act failed to advance in the Senate on Sept. 15, falling short of the 60 votes needed to proceed.
A day after the vote, SEC Chairman Paul Atkins said that “with or without legislation,” the agency will “act decisively” within its existing statutory authority to provide regulatory certainty for American investors and entrepreneurs.
Source: Paul Atkins
