Kalshi joins Coinbase with own filing for US stock perpetual futures
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Kalshi has filed with the SEC and submitted a proposal to the CFTC to offer perpetual futures tied to individual US stocks, joining Coinbase in this initiative. These contracts would have no preset expiration and use periodic funding payments to align prices with underlying stocks. Kalshi intends to clear these contracts through its CFTC-registered clearinghouse, Kalshi Klear, and the filings compete to bring crypto-style derivatives to traditional equity markets.
Why it matters
The source indicates this development reflects growing interest from multiple operators to introduce single-stock perpetual futures in the US market, a product popular in crypto markets but new for traditional equities. The filings come amid recent legislative setbacks for crypto regulation, indicating firms are advancing within existing regulatory frameworks. The source does not explicitly detail further market or user impact.
Key context
Kalshi currently offers crypto perpetual futures, including contracts on Bitcoin, Ether, Solana, and XRP, having received CFTC approval for Bitcoin perpetual futures in May. Coinbase and Payward (Kraken’s parent company) have also filed to offer perpetual futures on US equities, highlighting a crowded and competitive landscape. This activity follows the failure of the CLARITY Act in the Senate, intended to clarify crypto regulation, with SEC Chair Paul Atkins stating the agency will act within existing authority despite legislative setbacks.
Key numbers and entities
Kalshi, Coinbase, Payward (Kraken's parent company), the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), Tesla, Nvidia, Apple, Microsoft, Amazon, Paul Atkins (SEC Chair). The CLARITY Act failed to get 60 votes in the US Senate on September 15.
What remains unclear
The CFTC has not yet approved Kalshi’s proposed perpetual futures contracts. The article does not specify the timeline for approval, how the products will be priced in detail, the exact contract terms, or the potential impact on trading volumes and liquidity in these new derivatives markets.