Kalshi has launched LINKPERP, a perpetual futures contract tied to Chainlink’s LINK token, and says it is the first CFTC-regulated LINK perpetual product in the United States. The product gives U.S. traders access to a cash-settled contract with no expiration date, while pushing Kalshi beyond its earlier focus on event contracts and deeper into crypto derivatives.
Contract structure tracks LINK without expiry
According to Kalshi, LINKPERP follows the price of LINK through a perpetual futures design. Each contract represents 10,000 LINK and is quoted in U.S. dollars per token. Unlike standard futures, the contract does not expire. Price alignment is maintained through funding payments, a mechanism commonly used in perpetual markets to keep the contract close to the underlying asset’s market price.
Expansion beyond event markets
Kalshi described the launch as its biggest product expansion since introducing event contracts in 2021. Chief Executive Officer Tarek Mansour said perpetual futures are an important financial instrument and said the new listing reflects the company’s move into the derivatives market. For U.S. institutions, the contract creates a domestic regulated route to gain LINK-linked market exposure.
The company also pointed to growth in offshore perpetual futures activity. Kalshi said annual offshore perpetual volume rose from $28 trillion to more than $90 trillion between 2023 and 2025. It added that perpetual contracts remain widely used because they track prices continuously and let traders maintain exposure without a fixed maturity date.
Chainlink’s network utility remains central
LINK is the native token of the Chainlink oracle network. Kalshi said Chainlink has enabled more than $30 trillion in transaction value across over 70 blockchains. Institutions use the network for blockchain-based data and service delivery, while LINK is used to pay for oracle services. Network operators also use the token in security-related functions and to earn rewards.
Kalshi also noted that the Chainlink Reserve holds more than 4 million LINK. That reserve works alongside Payment Abstraction, a system designed to convert different assets into LINK for service payments across the network.