Kalshi Seeks Approval for Altcoin Perpetual Futures in U.S.
- Kalshi has applied to self-certify derivatives tied to twelve major altcoins following the CFTC’s approval of Bitcoin perpetual futures.
- The CFTC will approve perpetual futures on a case-by-case basis, meaning Kalshi’s offerings are not yet approved.
- Bitcoin leads the crypto derivatives market with nearly $55 billion in open interest, followed by Ethereum ($31.5 billion), Solana ($5.5 billion), and XRP ($3 billion).
- Kalshi aims to expand its presence in the U.S., a market traditionally dominated by offshore platforms like Binance.
- CFTC Chair Mike Selig emphasized the agency’s commitment to onshoring crypto asset perpetuals using available regulatory tools.
Kalshi is positioning itself to capitalize on new regulatory opportunities for cryptocurrency derivatives in the U.S., leveraging recent CFTC rulings that open doors for altcoin-based perpetual futures trading domestically.
Despite their application, Kalshi’s derivatives are pending approval under a cautious case-by-case approach by the CFTC, reflecting the complexity of introducing such financial products into regulated markets. (Source)
