Event contract platform Kalshi has obtained approval from the U.S. Commodity Futures Trading Commission (CFTC) to launch a bitcoin-linked perpetual futures contract. The product is designed for U.S. retail investors and will operate under full CFTC oversight, distinguishing it from unregulated offshore crypto perpetual products.
Kalshi emphasized that the approval marks a significant step in regulatory progress, but the CFTC's green light does not constitute an endorsement of leveraged trading risks. The contract will adhere to CFTC rules on counterparty management, clearing, and margin requirements, providing retail users with a transparent and legally compliant trading venue.
This development signals a further easing of U.S. regulatory stance on crypto derivatives. Previously, similar products were primarily offered by offshore exchanges, with U.S. users often resorting to gray-market access via VPNs. Kalshi's compliance-first approach is expected to attract both retail and institutional capital into regulated markets, though the CFTC remains cautious about excessive leverage.