Kalshi aims to enter crypto market through perpetual futures

Kalshi aims to enter crypto market through perpetual futures
Kalshi has found a way into the crypto market

​Prediction market exchange Kalshi is reportedly preparing to enter the crypto trading space by introducing perpetual futures. If launched, this would mark a significant shift for the company, which has so far focused primarily on event-based derivatives.

According to The Information, Kalshi plans to offer perpetual futures on cryptocurrencies such as Bitcoin. These are derivative contracts that allow traders to speculate on price movements without a fixed expiration date.

Unlike traditional futures, perpetual contracts do not require regular rollover. Traders can hold positions indefinitely, and these instruments are often used with leverage. This format was popularized by BitMEX and played a major role in the rapid growth of crypto derivatives trading.

Why Kalshi needs this move

For Kalshi, this step would mean moving beyond binary event contracts and entering broader financial markets. This could make the platform more attractive to both retail and institutional traders.

Another advantage for Kalshi is its regulatory status. The platform operates in the United States under the oversight of the Commodity Futures Trading Commission (CFTC), which could position it as a compliant alternative to offshore crypto exchanges, where derivatives trading is already standard.

Interest in this segment continues to grow. U.S. platforms and crypto exchanges are increasingly expanding their perpetual futures offerings, especially for users outside the United States. Recently, Coinbase launched 24/7 futures tied to equities for international traders, while Kraken introduced tokenized perpetual futures on U.S. stock indices, precious metals, and individual stocks.

Targeting Polymarket

Competition from Polymarket — one of Kalshi’s main rivals in the prediction markets space — is also an important factor. Unlike Kalshi, Polymarket is built on blockchain infrastructure and активно uses cryptocurrencies in its model, and even plans to launch its own stablecoin.

This crypto-native approach has brought Polymarket a significant share of its user base. The ability to trade directly on-chain, without traditional infrastructure or many typical restrictions, has been a key driver of the platform’s growth. Against this backdrop, Kalshi’s move into crypto looks not just like expansion, but an attempt to catch up with a competitor that is already well established in this segment.

It is also worth noting that both Kalshi and Polymarket have recently moved to tighten trading controls in response to increasing scrutiny from U.S. regulators.

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