Crypto News: Kalshi Expands Crypto Perpetuals After CFTC Approval

Key Insights

• Kalshi is preparing to expand its crypto perpetual futures lineup beyond Bitcoin.
• The CFTC appears to have approved products tied to XRP, Ethereum, Solana, and other digital assets.
• Crypto perpetual futures now account for most trading activity across digital asset markets.

Prediction market platform Kalshi is expanding deeper into cryptocurrency derivatives after securing approval to offer Bitcoin perpetual futures in the United States. The move comes days after the U.S. Commodity Futures Trading Commission (CFTC) cleared the product, opening the door for additional regulated crypto perpetual contracts.

The latest development highlights growing regulatory acceptance of perpetual futures, a market segment that dominates crypto trading activity globally but has largely operated through offshore venues.

Kalshi Expands Beyond Bitcoin Perpetual Futures

According to writer Dustin Gouker on X, the CFTC appears to have certified more perps for Kalshi.  A screenshot of the CFTC page shared by the Gouker showed approval for 12 new products for Kalshi.

These include major altcoins such as major altcoins like Ethereum, XRP, Sui, Solana, and Litecoin. The derivatives platform also received approval for perps on memecoins such as Dogecoin and Shiba Inu, as well as Bitcoin Cash, Polkadot, HBAR, and Stellar XLM.

While Kalshi is yet to confirm the new products, it is a sign that it is betting big on crypto perps listing. The platform, best known for event predictions, said in a blog post that it was the first US company to offer perps after receiving CFTC approval.

That post also stated that Kalshi plans to launch crypto perpetuals in more than a dozen currencies, pending regulatory review. It appears the reviews are now complete.

Meanwhile, the CFTC’s approval of crypto perps for Kalshi also highlights the regulator’s growing permissiveness.  Although it has allowed crypto derivatives for some time, the CFTC did not permit the listing of true crypto perpetual until last week.

The approval of Kalshi Bitcoin perp also coincided with the issuance of a no-action letter to Coinbase on its plans to offer crypto derivatives through Deribit. The CFTC’s Clearing and Risk, Market Oversight, and Market Participation Divisions have also jointly issued a staff advisory on Friday on Crypto perps.

Competition Intensifies Across U.S. Derivatives Markets

The growing number of participants could reshape the competitive landscape for crypto derivatives.

Analysts at Compass Point recently warned that broader access to regulated perpetual futures may increase competition for Coinbase and other established platforms. Traders will have more choices as new entrants launch products within the U.S. regulatory framework.

Exchanges such as Binance and decentralized derivatives platform Hyperliquid continue offering leverage levels that exceed those available under current U.S. regulations.

As a result, regulated platforms may attract institutional and risk-conscious traders, while offshore venues remain popular among participants seeking higher leverage and broader product selection.

The latest approvals nevertheless mark a major shift for the U.S. crypto market. For the first time, perpetual futures are beginning to move from offshore exchanges into a regulated domestic framework.

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