Kalshi Seeks Approval for US Stock Perpetual Contracts

On September 20, Kalshi submitted applications to the SEC and CFTC to introduce perpetual contracts linked to individual US stocks. The platform intends to adapt the perpetual futures model common in crypto markets for traditional equities. These contracts will not have fixed expiration dates and will rely on funding payments between long and short holders to track the underlying asset's price. The products are classified as security futures products and will be cleared through Kalshi Klear. This move aligns with a similar proposal submitted by Coinbase on the same day, as both companies aim to expand derivative trading for traditional assets.