Kalshi Pursues First U.S. Single-Stock Perpetual Futures — Targeting Tesla, Apple, Nvidia Among ~60 Names — BigGo Finance
Kalshi plans to launch single-stock perpetual futures in the U.S., targeting Tesla, Apple, and Nvidia among ~60 names. The contracts, with no expiration, will be regulated by the CFTC and SEC. Kalshi aims to differentiate its product from high-leverage crypto perpetual futures, capping leverage at 6.7x. Approval is pending, with opposition from firms like Citadel Securities and CME Group.
How this was made
The 30-second read
Why it matters
If approved, the product could create a new trading vehicle for major equities, affecting liquidity and competition among derivatives exchanges.
Market read
The filing could introduce a novel equity‑linked perpetual futures market, reshaping trading dynamics for large‑cap stocks and challenging existing derivatives platforms.
What to watch
Potential legal challenges from state gambling laws could delay or block launch.
Background
Kalshi plans to file an application with the CFTC and SEC for the first U.S. single‑stock perpetual futures, initially targeting mega‑cap stocks like Tesla, Apple and Nvidia, with up to 60 names and ETFs in the pipeline.
Market effects
May spur development of equity perpetual futures, impacting the derivatives sector.
Primarily U.S. market, but could influence global crypto derivative markets.
High, as it bridges crypto perpetual models with US equities.
Counterpoint
Regulators may reject the product, limiting its market impact.
Key entities
- CompanyKalshi
Private prediction‑market platform seeking regulatory approval for equity perpetual futures.
- CompanyTesla
Mega‑cap stock proposed as an underlying asset for the new perpetual futures.
- CompanyApple
Mega‑cap stock proposed as an underlying asset for the new perpetual futures.
- CompanyNvidia
Mega‑cap stock proposed as an underlying asset for the new perpetual futures.
- RegulatorCFTC
U.S. Commodity Futures Trading Commission, to jointly regulate the product.
