Kalshi Seeks CFTC Approval for 500-Stock Index Perpetual Futures After $1 Billion Crypto Debut
Updated
Updated · CNBC · Aug 18
Kalshi Seeks CFTC Approval for 500-Stock Index Perpetual Futures After $1 Billion Crypto Debut
3 articles · Updated · CNBC · Aug 18
Summary
Kalshi asked the CFTC on Tuesday to approve perpetual futures tied to equity indexes, including a US500 contract linked to the MerQube U.S. Large Cap Index.
The filing extends Kalshi’s push beyond prediction markets after it won approval in late May for crypto perps, a product class that had previously been entirely offshore from the U.S.
Perpetual futures track an asset continuously without expiration, using funding payments to keep prices aligned; Kalshi said the market handled more than $90 trillion in global volume in 2025.
Kalshi has already moved into other assets, filing last month for gold and silver perps and on Tuesday for copper, as it tries to build a multi-asset exchange.
That expansion has unsettled incumbents: CME sued the CFTC over domestic perps approval, though CME shares rose 2% and Cboe gained 0.8% in early Tuesday trading.