TREE NEWS update: Kalshi has filed a proposal to offer perpetual futures tied to individual US stocks, bringing the derivative product to US traders. Coinbase and Bitnomial are pursuing similar products, setting up parallel efforts to list stock-linked perpetual futures domestically.
Kalshi files for US stock perpetual futures, joining Coinbase
The significance lies less in the product itself than in the venue: prediction-market and crypto-native platforms are now pushing perpetual-style exposure into US equity underlyings, a structure that has long lived offshore or in crypto. That puts them on a collision course with the established futures ecosystem and its regulators, and the parallel filings suggest a coordinated industry bet rather than a one-off. Whether US regulators treat stock perpetuals as a natural extension of listed derivatives or as a structure needing bespoke guardrails is the open question.
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