Kalshi Files for CFTC Approval of US Stock Perpetual Futures
Kalshi filed proposed listing standards with the SEC for perpetual futures tied to 58 US stocks and ETFs under File No. SR-KALSHIEX-2026-02 on September 18. CFTC approval remains pending and products are not yet live.
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Story Updates
- Updated Sep 22, 2026, 12:02 PM: SEC filing published September 18 specifies 58 underlying stocks and ETFs; products remain pre-launch pending CFTC approval.
Filing Details and Scope
Kalshi submitted proposed listing standards for perpetual security futures covering 58 stocks and exchange-traded funds, according to an SEC filing published September 18 under File No. SR-KALSHIEX-2026-02. The filing establishes the regulatory framework but does not make the contracts available for trading; CFTC approval is still required before launch. The platform is seeking 23-hour weekday trading on these instruments, offering near-continuous market access compared to traditional equity exchanges.
How Perpetuals Work and Market Opportunity
Perpetual futures lack fixed expiration dates and use funding rate mechanisms to keep prices aligned with underlying markets rather than requiring contract rollovers. Applying this structure to US-listed stocks and ETFs would extend a crypto-native derivatives model into traditional equities. The move puts Kalshi in direct competition with Coinbase, which has also sought regulatory approval to offer similar equity perpetuals to US traders.
Regulatory Precedent and Timeline
The regulatory pathway for stock perpetuals on crypto exchanges has not been previously established, making Kalshi's filing a test case for how US derivatives regulators will treat equity-linked crypto products. No launch date has been confirmed; regulatory review is ongoing.
Why It Matters
For Traders
If approved, perpetual equity futures offer 23-hour trading and leverage outside traditional market hours, materially changing execution opportunities.
For Investors
CFTC approval of equity perpetuals on crypto platforms signals regulatory openness to hybrid financial products and could reshape retail derivatives access.
For Builders
A regulatory precedent for equity perpetuals on crypto-native platforms expands the surface available for equities-linked protocol development.
This article is for information only and is not financial advice. Read the full disclaimer.
