- Kalshi is seeking approval for single-stock perps tied to major names including Tesla, Apple and Nvidia.
- The planned expansion could cover around 60 perpetual contracts across large-cap stocks and ETFs.
Kalshi is seeking regulatory approval to offer perpetual futures tied to individual U.S. stocks, including Tesla, Apple and Nvidia, according to The Wall Street Journal. The move would extend the prediction-market platform’s growing derivatives business into single-stock products that are more commonly associated with crypto trading.
The company is planning roughly 60 perpetual contracts linked to major stocks and exchange-traded funds. The proposed products would focus on large companies, generally with market values above $100 billion, according to the report.
Perpetual futures, or “perps,” differ from traditional futures because they do not have an expiration date. Traders can keep positions open instead of closing or rolling them when a contract reaches maturity. The products can also provide leveraged exposure, meaning relatively small movements in an underlying asset can produce much larger gains or losses.
Kalshi has already received regulatory approval for perpetual futures linked to crypto assets. In May, the company launched what it described as the first U.S. regulated perpetual futures contracts, starting with Bitcoin and Ethereum. The CFTC had approved the product before its launch.
Kalshi Takes Crypto-Style Perps Into Stocks
The proposed stock contracts would bring the same structure into the U.S. equity market. Tesla, Apple and Nvidia are among the companies identified in the report, putting some of the market’s most actively traded stocks in line for potential 24-hour derivatives trading.
The expansion comes as perpetual contracts have grown rapidly in crypto markets, where they have become a major way for traders to take leveraged long and short positions. Kalshi’s move would bring that trading format into a regulated U.S. derivatives venue for individual stocks.
However, the proposed contracts are not yet approved or available for trading. Kalshi must first obtain the necessary regulatory clearance.
The company’s expansion also comes amid a wider push by financial platforms to bring perpetual-style products to U.S. investors. Kalshi has already filed for other perpetual contracts, including products tied to equity indexes and commodities.
The proposed single-stock contracts would mark another significant step in the convergence between crypto-style derivatives and traditional U.S. financial markets.
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