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The CFTC announced Kalshi is approved for the first true bitcoin-referenced perp, BTCPERP
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"This marks Kalshi’s evolution from prediction market leader to next-gen derivatives exchange," said Tarek Mansour, CEO of Kalshi, in a post on the company's website that called their event-contract business only the first chapter.
Key facts
- The CFTC announcements follow closely on the heels of President Donald Trump's social-media post this week that cited perpetuals and argued that the previous administration's regulators "nearly
- Trump's CFTC chairman, Mike Selig, argued that the contracts represent "a foundational risk management and price discovery tool in the global crypto asset markets
- While Kalshi is best known in the public as a leading prediction markets platform, the registered exchange has been expanding its business footprint
- Paul Grewal, Coinbase chief legal officer, called it a "massive first for the industry" in a post on social media site X
Summary
The U.S. Commodity Futures Trading Commission has given approval for bitcoin perpetual futures contracts on a regulated exchange run by Kalshi, marking a first for domestic U.S. perps. At the same time, the agency also cleared a path for a Coinbase affiliate to connect its customers to options and perps at the global level. The derivatives regulator has now set a standard for firms to approach such contracts, which CFTC Chairman Mike Selig called a "major step forward" in adopting policies to boost the U.S. crypto space. U.S. crypto firms can offer perpetual futures contracts, or "perps," without running afoul of the U.S. Commodity Futures Trading Commission, according to the agency's first approval allowing Kalshi to list and trade U.S. bitcoin perpetuals, the regulator said on Friday. In a related action, the agency also issued key guidance that allowed Coinbase Financial Markets to put its U.S. clients into global options and perps, tapping the largest current markets.