Kalshi plans to introduce the crypto perpetual contract model to U.S. equities, and has submitted permanent listing standards for securities and futures to the SEC.
32 minutes ago
Today, the U.S. Federal Register published a rule filing notice from KalshiEX LLC (Kalshi). The prediction market platform has submitted proposed rule changes to the U.S. Securities and Exchange Commission (SEC), seeking immediate implementation. The changes add Chapter 14 to Kalshi’s rulebook to list Perpetual Securities Futures Products (Perpetual SFPs). These contracts have no fixed expiration date, and their prices are anchored to the spot values of underlying U.S. stocks or ETFs via periodic funding fees between long and short positions. Kalshi categorizes the products as securities futures, and intends to clear them through its subsidiary clearing platform Kalshi Klear. The listing threshold is stringent: underlying assets must have a deliverable supply exceeding 20 million shares, a market capitalization of at least $100 billion, an average daily trading volume of no less than $450 million over the past six months, and contract units are mostly 100 shares.
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