S. perpetual futures tied to individual stocks, including Tesla Inc.
(NASDAQ:TSLA), Apple Inc. (NASDAQ:AAPL) and Nvidia Corp.
Kalshi Eyes 60 Stock And ETF PerpsAccording to people familiar with the matter cited by The Wall Street Journal in a report on Thursday, Kalshi plans roughly 60 perpetual contracts, or “perps,” tied to major stocks and exchange-traded funds, limiting individual-company products to businesses worth at least $100 billion. The push builds on Kalshi’s move into regulated crypto perpetuals.
In May, the Commodity Futures Trading Commission approved KalshiEX’s Bitcoin (CRYPTO: BTC) perpetual future. The CFTC also said it would not object to Coinbase Global Inc.
S. Single-Stock Contracts Face Dual Regulatory ReviewSingle-stock perps face an additional regulatory hurdle.
The Securities and Exchange Commission guide to broker-dealer registration says futures on individual securities are regulated jointly as securities by the SEC and as futures by the CFTC, meaning Kalshi would need both agencies involved before launching the products. S.
market. Critics Warn Leverage Could Magnify LossesCritics warn that leverage and perpetual funding payments can accelerate losses.
Kalshi argues its leverage is comparable to traditional futures and lower than many offshore alternatives, according to the Journal. The regulatory fight is already contentious.
CME Group Inc. (NASDAQ:CME) sued the CFTC in June over its approval of Kalshi’s crypto perps, arguing they should be classified as swaps, as per a Reuters report at the time.
