Kalshi Files to Launch Individual Stock Perpetual Futures

The prediction market platform Kalshi has submitted an application to the U.S. Securities and Exchange Commission to offer perpetual futures linked to individual U.S. stocks for American traders, which has not yet been approved. The relevant contracts have no preset expiration date and maintain price alignment with the underlying stocks through periodic funding fees between long and short positions. The contracts will be treated as securities futures products and cleared through its CFTC-registered clearinghouse, Kalshi Klear. On the same day, cryptocurrency exchange Coinbase also submitted an independent application to offer individual stock perpetual futures, while Payward submitted a similar application through its Bitnomial Exchange, planning to cover 10 U.S. stocks including Tesla, Nvidia, Apple, Microsoft, and Amazon, facilitating trading five days a week, 24 hours a day.

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