- Kalshi filed with the CFTC to launch perpetual futures tied to a US large-cap stock index and copper.
- The US500 contract would track the MerQube US Large Cap Index, covering 500 major US companies.
- The copper contract would track the spot price of copper.
- Kalshi already received approval for a Bitcoin perpetual futures contract in May.
- The move shows Kalshi continuing to expand from prediction markets toward a broader financial trading platform.
Kalshi is expanding beyond traditional prediction markets with plans to offer perpetual futures tied to US stocks and copper.
The company filed with the Commodity Futures Trading Commission (CFTC) to launch two new contracts.
The first, called the US500 Contract, would track the MerQube US Large Cap Index, which measures the performance of 500 of the largest companies listed and based in the US.
The second would be a perpetual futures contract tied to the spot price of copper, quoted in US dollars per pound and using Pyth Network's XCU-USD price feed.
Perpetual futures, or "perps," are contracts that do not have a fixed expiration date. Traders can use them to bet on whether an asset's price will rise or fall without directly owning the underlying asset.
Kalshi is moving beyond prediction markets
The latest filings are part of Kalshi's broader push to become a more general-purpose financial trading platform.
In May, the CFTC approved Kalshi's first Bitcoin perpetual contract, opening the door for these products to trade in the US.
Kalshi has since been expanding the concept beyond crypto and into traditional financial markets such as equities and commodities.
The expansion could put Kalshi into more direct competition with established derivatives exchanges.
In June, CME Group sued the CFTC, arguing that the regulator had improperly approved perpetual futures offered by Kalshi and Coinbase. CME said the products could directly compete with its existing derivatives business.
Kalshi's latest filings suggest the company is continuing forward despite that legal challenge.
