Kalshi joins Coinbase with filing for US stock perpetual futures
Kalshi and Coinbase have filed proposals with US regulators to offer perpetual futures contracts tied to individual stocks. These derivatives, which lack expiration dates, aim to bring crypto-style trading mechanisms to traditional equity markets.
Why it matters
This move represents a significant shift in financial market structure, potentially increasing retail access to complex derivative products and challenging traditional exchange models.
Kalshi has filed to offer perpetual futures tied to individual US stocks, joining Coinbase in a push 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 CFTC has yet to approve the proposal.
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. Kalshi said the contracts would be treated as security futures products and cleared through its CFTC-registered clearinghouse, Kalshi Klear.
The filing comes the same day Coinbase submitted a separate 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.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in