Kalshi, the CFTC-regulated exchange best known for prediction markets, is reportedly preparing to launch crypto perpetual futures for the U.S. market. The Information, citing people familiar with the matter, said the product was planned for April 21, 2026. Kalshi has not officially confirmed a launch date.
A move beyond binary event contracts
The New York-based company built its name on binary event contracts tied to subjects such as election outcomes and economic data. A push into perpetual futures would take it into a very different part of the market. Unlike traditional futures, perpetuals have no expiration date, allowing traders to keep positions open indefinitely through a funding-rate mechanism. That structure has made perps the dominant product in global crypto derivatives trading.
If Kalshi enters the segment, it would be competing with firms such as Coinbase as well as offshore venues that currently account for much of the world’s perpetual futures volume. For the U.S. market, the reported launch would stand out because compliant domestic options for this type of crypto trading have been limited.
Regulatory shift may support the rollout
The report arrived after comments from CFTC Chairman Michael Selig in March 2026, when he said the agency intended to allow “true perpetual futures” for digital assets in the United States. Kalshi already holds designated contract market, or DCM, status. According to The Information, that regulatory footing could help bring trading activity back onshore from non-U.S. platforms.
“Timeless” teaser fuels speculation
Kalshi recently promoted a product called “Timeless” and scheduled its reveal for April 27 in New York, though it did not say the launch was tied to crypto perpetuals. Industry analysts cited in the report suggested the product could involve perpetual versions of Kalshi’s existing event contracts. A crypto-specific offering, though, would amount to a broader expansion into mainstream digital-asset derivatives.
The timing also matches a sharp rise in Kalshi’s valuation. Following a recent funding round led by Coatue Management, the company was valued at about $22 billion. Over the past year, Kalshi’s growth has been supported by the launch of legal election markets in 2024 and the integration of tokenized event contracts on the Solana blockchain. If the reported plan moves ahead, Kalshi would be offering U.S. retail and institutional traders an onshore, regulated route into high-leverage crypto trading.