Kalshi races Coinbase & Bitnomial to launch stock perpetuals

Coinbase & Bitnomial filed rival stock-perpetual plans the same day.

The hit

Kalshi filed with the SEC & CFTC to launch perpetual futures tied to major US stocks & ETFs, according to CoinCentral. The contracts would settle in cash & clear through Kalshi Klear, the firm’s own clearinghouse. Each standard contract would cover 100 shares of the underlying stock. Coinbase & Bitnomial filed rival plans; none has been approved yet.

Why it matters

If approved, these products would let retail traders hold leveraged, expiry-free positions on stocks like Apple, Tesla & Nvidia around the clock, blurring the line between stock trading & sports-style betting markets. Kalshi already runs a CFTC-approved bitcoin perpetual, but equities face tougher securities rules. Competition between Kalshi, Coinbase & Bitnomial could shape margin rules & trading hours industry-wide.

The record

Filing date	September 18, 2026 (Kalshi, Coinbase, Bitnomial)
Kalshi minimum margin	15.50% of position value
Bitnomial minimum margin	15.25%
Kalshi trading hours	6pm ET Sunday to 5pm ET Friday, 1-hour daily maintenance window
Kalshi rules effective date	November 2, 2026 (pending CFTC approval)
Prior CFTC approval	Kalshi’s bitcoin perpetual, approved May 2026

What happens next

Watch the CFTC’s public database for approval status on Kalshi’s, Coinbase’s & Bitnomial’s filings before their proposed rules can take effect automatically.

Sources: Kalshi, Coinbase and Kraken-Linked Bitnomial Race to Launch Stock Perpetuals – CoinCentral

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