Kalshi Files Application to Launch Perpetual Futures for US Stocks

Prediction market platform Kalshi has submitted a proposed rule change to the SEC and an approval request to the CFTC to launch perpetual futures contracts tied to individual US stocks. Similar to a recent application by Coinbase, the proposal aims to bring crypto-style perpetual futures to traditional equity markets. These contracts would lack fixed expiration dates and utilize periodic funding payments between long and short positions to maintain price alignment with underlying stocks. The contracts would be cleared through Kalshi's CFTC-registered clearinghouse, Kalshi Klear. Other firms, including Payward (parent company of Kraken) via Bitnomial Exchange, are also seeking to offer perpetual futures on major US stocks like Tesla, Nvidia, Apple, Microsoft, and Amazon.