Approval marks the first U.S.-regulated platform to offer Bitcoin perpetual futures, expanding derivatives access for traders.
The Commodity Futures Trading Commission approved Kalshi to offer Bitcoin perpetual futures, a first for a U.S.-regulated exchange. The move follows a December approval for Bitnomial under former CFTC chair Caroline Pham, signaling growing regulatory acceptance of crypto derivatives.
Kalshi, a prediction market, plans to launch the product within a month, positioning itself as a rival to Polymarket. Perpetual futures, which lack expiration dates, dominate offshore platforms like Hyperliquid, which has faced scrutiny over market integrity concerns.
The approval underscores Kalshi’s expansion into derivatives, building on its event-contract model. The company called it its most significant product launch since introducing event contracts.