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Kalshi To Offer U.S. Stock And Commodities Trading

Prediction market Kalshi plans to offer customers the ability to trade single-stock perpetual futures contracts in the U.S., as well as bet on the price movements of agriculture commodities.

Analysts say the move represents an attempt by Kalshi to muscle in on traditional financial markets.

New York-based Kalshi says that it is seeking regulatory approval to list contracts linked to some of the biggest U.S. stocks, such as Tesla (NASDAQ: $TSLA) and Nvidia (NASDAQ: $NVDA).

Kalshi has reportedly asked the U.S. Commodity Futures Trading Commission (CFTC) and U.S. Securities and Exchange Commission (SEC) to jointly regulate its never-expiring futures contracts.

Perpetual futures, popularly known as “perps,” are leveraged contracts that allow people to speculate on the price movements of stocks with no expiration date.

The contracts are likened to options trades but with no expiration date. They have become increasingly popular with individual retail investors.

However, U.S. regulators and some financial industry leaders have questioned the built-in leverage on perpetual futures contracts, which amplify the risk people take with each trade.

Kalshi is also adding perps tied to the price of agriculture commodities such as corn and wheat.

The move into agriculture comes after Kalshi sought approval to offer perpetual futures contracts tied to the price movements of crude oil.

Unlike crypto-linked perpetual futures contracts that trade 24/7, Kalshi’s single-stock contracts would initially trade 23 hours per day, five days a week.

Perpetual futures contracts have long been associated with cryptocurrencies but have broadened out to other areas of the market in recent months.

Prediction markets such as Kalshi enable people to bet on the outcome of real-world events ranging from sports and elections to wars and the weather.

Kalshi is privately held and its stock does not trade on a public exchange.