Kalshi Expands Beyond Prediction Markets With US 500 Perpetual Futures

The prediction market operator has officially launched a perpetual futures contract tied to the US 500, an index tracking 500 of the largest companies in the United States. The derivatives product allows retail traders to take leveraged long or short positions on the broader stock market without a fixed expiration date. To keep the contract's price aligned with the underlying index, the system relies on periodic funding payments exchanged between long and short traders. Kalshi initially filed with the Commodity Futures Trading Commission in August to secure regulatory approval for the new equity instrument. Last month, Reuters reported that the company is already preparing to file with regulators for a separate perpetual contract tracking West Texas Intermediate crude oil. "Stock market exposure is the next step towards Kalshi becoming a full-service financial exchange, and perps are the best way for our traders to get this exposure." — CEO Tarek Mansour