Kalshi wants 24/7 Tesla and Nvidia perps as Wall Street fights over who regulates them
Kalshi is seeking regulatory approval to offer 24/7 perpetual futures for individual stocks like Tesla and Nvidia. The proposal has sparked a debate between regulators and trading firms over whether these products fall under SEC or CFTC jurisdiction.
Why it matters
The introduction of perpetual futures for individual stocks could fundamentally change retail trading and market surveillance standards.
The operator plans to seek regulatory approval for roughly 60 perpetual futures linked to individual stocks and exchange-traded funds, the Wall Street Journal reported late Thursday . If approved, they would be the first regulated single-stock perps offered in the U.S.
Perpetual futures, usually called perps, let traders bet on whether an asset will rise or fall, often with borrowed money, without the contract ever expiring. Traders instead make regular payments to one another that help keep the contract near the price of the asset it tracks.
They have become one of crypto's largest businesses since the soon to be defunct exchange BitMEX introduced these products in 2016, with newer venues such as Hyperliquid letting traders take leveraged positions on bitcoin and hundreds of tokens at any hour.
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