Why Kalshi Chose Crypto Perps for Its First Move Beyond Prediction Markets

Description

Kalshi launched the first CFTC-regulated crypto perps in the US, targeting a $90 trillion offshore market. John Wang, Kalshi's Head of Crypto, walks through what a perpetual future is, why traders prefer it over options and standard futures contracts, how the CFTC's review process shapes Kalshi's per-asset leverage caps, and how Kaiko benchmarks power the index price that the perp tracks. Host: 👉 Laura Shin - Founder, CEO and Host of Unchained - https://x.com/laurashin Guest: 👉 John Wang - Head of Crypto at Kalshi - https://x.com/j0hnwang This clip is from a longer conversation on crypto perpetual futures, prediction markets, and Kalshi's US launch. Full episode here: https://youtube.com/live/cOo_uKJj-ZM We go live on Monday and Thursdays - subscribe to catch it live. _______________________________________________________ Thank you to our sponsor! 👉 Cape: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at https://cape.co/unchained (use code: UNCHAINED). Chapters: 🎯 00:00 Why Kalshi chose crypto perps as its first move outside prediction markets 🔧 02:00 What a perpetual future is and why it beats options and standard futures for traders 📊 03:37 How CFTC review sets Kalshi's leverage caps per asset 🌐 04:40 How Kalshi decides which crypto assets to list 🔍 06:16 How Kaiko Benchmarks powers Kalshi's perp index price 📈 08:00 Trading volume vs. open interest: the metric Arthur Hayes uses to track perps _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies _______________________________________________________ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!