Kalshi seeks rules ahead of launch for stock-based perpetual futures

Prediction market platform Kalshi is preparing to launch Perpetual SFPs, or perpetual futures tied to individual stocks, and has moved to establish listing and trading rules for the products. According to the Federal Register, Kalshi submitted a proposed rule change to the U.S. SEC on Sept. 18 covering listing and trading standards for the products, and also applied to the U.S. CFTC for approval the same day. The CFTC has not yet approved the proposal. Eligible stocks must have a market capitalization of at least $100 billion, an average daily trading value of at least $450 million over the past six months, and more than 20 million shares available to the market. After listing, maintenance requirements including a $50 billion market capitalization and an average daily trading value of $200 million in the previous quarter would apply. Trading would take place on the Kalshi platform, while clearing would be handled by Klear, a CFTC-registered entity.