Kalshi Files to Launch Single-Stock Perpetual Futures in the U.S.

Odaily News: Prediction market platform Kalshi has filed an application to offer perpetual futures tied to individual U.S. stocks to American traders. The company has submitted a proposed rule change to the U.S. Securities and Exchange Commission (SEC) and filed the application with the U.S. Commodity Futures Trading Commission (CFTC) for approval, which has not yet been granted.

Kalshi stated that the contracts have no preset expiration date and will use periodic funding fees between long and short positions to keep prices aligned with the underlying stocks. The contracts will be treated as security futures products and cleared through its CFTC-registered clearinghouse, Kalshi Klear.

Cryptocurrency exchange Coinbase filed a separate application on the same day to offer single-stock perpetual futures. Payward submitted a similar application through its Bitnomial Exchange, planning to initially cover 10 U.S. stocks including Tesla, Nvidia, Apple, Microsoft, and Amazon, and to advance toward 24-hour trading, 5 days a week. (Cointelegraph)