CFTC Approves Kalshi to Offer Bitcoin Perpetual Futures in the US
The U.S. Commodity Futures Trading Commission (CFTC) has authorized Kalshi to offer Bitcoin perpetual futures, marking a significant step for the predominantly offshore asset class. The approval, issued Friday, follows a similar green light for Bitnomial in December under former chair Caroline Pham, though Bitnomial's product had a 25-year limit, making it not truly perpetual. Kalshi expects to launch within the next month, with CEO Tark Mansour describing the move as the company's evolution into a "next-gen derivatives exchange." The approval requires Kalshi to comply with the Commodity Exchange Act. Perpetual futures have seen massive growth, with $90 trillion in trading volume last year, but have been largely inaccessible to U.S. institutions until now. The market is currently dominated by offshore platforms like Hyperliquid. Rival Polymarket also plans to offer perpetual futures linked to stocks and commodities. Traditional exchanges like Coinbase and Kraken have already introduced futures with five-year expiries that mimic perps.
Key facts
- CFTC approved Kalshi to offer Bitcoin perpetual futures in the US.
- Kalshi plans to launch within a month, calling it its biggest product expansion.
- Bitnomial received similar approval in December but with a 25-year limit.
- Perpetual futures market had $90 trillion in trading volume last year.
- Rival Polymarket also plans to offer perpetual futures on stocks and commodities.