Prediction market platform Kalshi has announced on X that it has officially launched Bitcoin perpetual contracts. The product is touted as the first US regulator-approved Bitcoin perpetual contract, with its pricing benchmarked to the Bitcoin spot price and classified as a futures contract.
The US Commodity Futures Trading Commission (CFTC) previously reviewed the contract, designated as BTCPERP, and determined that it complies with the Commodity Exchange Act (CEA) and related regulatory requirements, including the core principles applicable to designated contract markets (DCM). This regulatory nod marks the formal approval of the perpetual contract.
As the first Bitcoin perpetual product launched under the US regulatory framework, this move by Kalshi sets a significant precedent for the crypto derivatives market and reflects a cautious yet progressive regulatory approach to digital asset derivatives.