The filing comes the same day Coinbase submitted a separate proposal to offer perpetual futures tied to individual US stocks, as both companies look to bring a derivatives product popular in crypto markets to traditional equities.
Kalshi already offers perpetual futures tied to cryptocurrencies in the US, including Bitcoin (BTC), Ether (ETH), Solana (SOL) and $XRP ($XRP), after receiving CFTC approval for its Bitcoin perpetual contract in May.
US stock perpetual futures race expands
Kalshi and Coinbase were not alone in filing to bring single-stock perpetual futures to the US market. Payward, the parent company of crypto exchange Kraken, also filed through its Bitnomial Exchange to offer the products, with plans to make them available to US traders on Kraken.
Payward said it plans to initially offer perpetual futures tied to 10 US equities, including Tesla, Nvidia, Apple, Microsoft and Amazon, and is working toward 24/5 trading.
The filings come days after the CLARITY Act failed to advance in the Senate on Sept. 15, falling short of the 60 votes needed to proceed.
A day after the vote, SEC Chair Paul Atkins said that “with or without legislation,” the agency would “act decisively” within its existing statutory authority to provide regulatory certainty for American investors and entrepreneurs.
Source: Paul Atkins
