Kalshi joins Coinbase with filing for US stock perpetual futures
Kalshi’s proposal would bring perpetual futures tied to individual stocks to US traders, as Coinbase and Bitnomial pursue similar products.
Kalshi has filed for US regulatory approval of perpetual futures contracts tied to individual stocks, moving to join Coinbase in expanding crypto-style derivatives to traditional equity markets. The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are currently reviewing the proposal, though approval has not yet been granted.
Perpetual futures contracts, which have no preset expiration date, would utilize periodic funding payments to align prices with underlying stocks. The contracts would be classified as security futures products and processed through Kalshi Klear, the company's CFTC-registered clearinghouse.
This move comes on the same day Coinbase announced a separate proposal for offering its own perpetual futures contracts tied to individual US stocks. Both companies aim to introduce a popular crypto derivatives product into traditional equity markets.
Kalshi already offers perpetual futures on cryptocurrencies like Bitcoin, Ether, Solana, and XRP, having received CFTC approval for its Bitcoin perpetual contract in May. Payward, the parent company of crypto exchange Kraken, has filed for similar perpetual futures products through its Bitnomial Exchange, with plans to initially launch contracts for 10 US equities, including Tesla, Nvidia, Apple, Microsoft, and Amazon.
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