Kalshi, Kraken, and Coinbase File Proposals for 24/7 Perpetual Futures on US Stocks

Kalshi, Kraken (via Bitnomial Exchange), and Coinbase have simultaneously filed proposals with the SEC and CFTC to launch perpetual futures on individual US stocks. These products aim to bring 24/7 trading and no-expiry structures—common in crypto markets—to traditional equities. Kalshi plans to clear these products through its CFTC-registered clearinghouse, Kalshi Klear, while Kraken's parent company, Payward, intends to offer contracts on 10 major stocks, including Tesla, Nvidia, Apple, Microsoft, and Amazon, through the Kraken platform.