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Kalshi joins Coinbase with own filing for US stock perpetual futures
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Kalshi’s proposal would bring perpetual futures tied to individual stocks to US traders, as Coinbase and Bitnomial pursue similar products.
Key facts
- Payward said it plans to initially offer perpetual futures tied to 10 US equities, including Tesla, Nvidia, Apple, Microsoft and Amazon, and is working toward 24/5 trading
- The filings come days after the CLARITY Act failed to advance in the US Senate on Sept. 15, falling short of the 60 votes needed to proceed
- The prediction market filed the proposed rule change with the Securities and Exchange Commission and submitted it to the Commodity Futures Trading Commission (CFTC) for approval on Friday
- Kalshi already offers perpetual futures tied to cryptocurrencies in the US, including Bitcoin (BTC), Ether (ETH), Solana (SOL) and XRP (XRP), after receiving CFTC approval for its Bitcoin perpetual
Summary
Kalshi has filed to offer perpetual futures tied to individual US stocks, joining Coinbase in the competition to bring crypto-style derivatives to traditional equity markets. The prediction market filed the proposed rule change with the Securities and Exchange Commission and submitted it to the Commodity Futures Trading Commission (CFTC) for approval on Friday. The proposed contracts would have no preset expiration date and would use periodic funding payments between long and short positions to keep their prices aligned with the underlying stocks. The filing comes the same day Coinbase submitted its own proposal to offer perpetual futures tied to individual US stocks, as both companies look to bring a derivatives product popular in crypto markets to traditional equities.