Kalshi and Polymarket announce the launch of perpetual contract trading, accelerating their move into the derivatives industry

ChainCatcher reports that, according to CoinDesk, prediction market platform Kalshi is preparing to launch a cryptocurrency trading business in the United States, expanding beyond its core prediction market operations. According to sources, the platform plans to initially launch perpetual contracts linked to cryptocurrencies such as Bitcoin.

This move will position Kalshi in more direct competition with crypto platforms like Coinbase. Currently, Coinbase has not offered true perpetual contracts in the U.S., but has launched long-term “perpetual-style” futures contracts and expressed interest in introducing more advanced derivatives products domestically.

Kalshi already holds multiple licenses from the U.S. Commodity Futures Trading Commission (CFTC) and has recently been approved to offer margin trading, qualifying it to enter the derivatives market. Insiders say the company expects to start with crypto-linked perpetual contracts and may expand this model to other asset classes in the future.

Kalshi’s competitor Polymarket also announced plans on X to launch perpetual futures on its platform but did not disclose further details. A video in the tweet shows users can leverage long and short positions on assets like gold, NVIDIA, BTC, and AAPL, and states that registration grants early access.