Kalshi files to offer US stock perpetual futures

stock perpetual futures — Prediction market platform Kalshi has filed with US regulators to offer perpetual futures contracts tied to individual stocks, joining a growing race to bring crypto-style derivatives to traditional equity markets.

The company submitted its proposed rule change to the Securities and Exchange Commission and the Commodity Futures Trading Commission for approval on Friday. The proposed contracts would have no expiration date and use periodic funding payments to maintain price alignment with underlying stocks, to be treated as security futures products.

Kalshi’s filing follows a similar proposal from Coinbase and comes as Payward, the parent company of Kraken, also filed through its Bitnomial Exchange to offer single-stock perpetuals. Payward plans to initially offer contracts on 10 major US equities, including Tesla and Nvidia.

Kalshi already offers crypto perpetual futures for assets like Bitcoin and Ether in the US, having received CFTC approval for its Bitcoin contract in May. The filings come shortly after the CLARITY Act failed to advance in the US Senate.