Kalshi files to launch perpetual contracts tied to US individual stocks

BlockBeats news, September 20: Kalshi has applied to launch perpetual futures contracts tied to U.S. individual stocks, joining Coinbase in pushing to bring crypto-style derivatives into the traditional stock market.

The prediction market platform filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC) on Friday and submitted the related proposal to the U.S. Commodity Futures Trading Commission (CFTC) for approval. Currently, the CFTC has not approved the proposal.

The proposed contracts would have no preset expiration date and would use periodic funding rate payments between long and short positions to keep the contract price aligned with the underlying stock. Kalshi said these contracts would be treated as security futures products and cleared through its CFTC-registered clearinghouse, Kalshi Klear.

The application came on the same day as another Coinbase proposal to launch perpetual futures on U.S. individual stocks, with both companies hoping to bring this derivative, which is highly popular in crypto markets, into the traditional stock market.