Kalshi stock perps draw $300m within hours of US debut
Kalshi’s bitcoin perps got CFTC approval back in May, ahead of this week’s stock launch.
The hit
Kalshi says it became the first US company to offer perpetual futures on individual stocks, rolling out contracts on more than 50 names including Palantir, Meta, SpaceX & McDonald’s, according to Unchained. Trading volume hit $300m within hours of what co-founder Luana Lopes Lara called a “stealth launch”.
Why it matters
The contracts answer to both the CFTC & the SEC as security futures, a product class Congress created in 2000. That dual oversight lets US traders bet on stock moves without owning shares, using leverage set under CFTC rules, on a regulated exchange rather than the offshore venues where Kalshi says this market has lived until now.
The record
| Launch date | 5 November (Kalshi) |
|---|---|
| Trading volume | $300m within hours of launch (Kalshi co-founder Luana Lopes Lara) |
| Stocks covered | More than 50, including Palantir, Meta, SpaceX & McDonald’s (Kalshi) |
| Offshore market size | $4.5tn traded annually in single-stock perps (Kalshi) |
| Regulatory clearance | CFTC chairman Michael Selig statement, 3 November |
| Prior approval | Bitcoin perpetual contract cleared by the CFTC in May |
What happens next
Watch whether rivals named by ARK Invest’s Lorenzo Valente, including Coinbase & Robinhood, move to launch competing stock perp products.
Sources: Kalshi Users Pour $300 Million Into Stock Perps Within Hours of U.S. Debut
18+. Betting involves risk. If gambling is a problem for you or someone close to you, help is available.
Work with BH Group. Paid ads that get iGaming & crypto brands players & users, in the GEOs you choose. Get a plan
Discussion
Ask a question, add useful context or share a source. Keep it relevant & respectful.
Add a comment
Comments are reviewed before publication.