First US-Regulated Crypto Perpetual Futures Launch by Kalshi and Coinbase
On May 29, 2026, Kalshi and Coinbase launched the first CFTC-regulated perpetual crypto futures for U.S. investors, offering a domestic alternative to offshore platforms. The products, starting with bitcoin, allow high leverage (up to 50:1) and no expiration. Kalshi’s volume surpassed $1 billion in its first week, while the global perps market exceeds $90 trillion annually. Critics warn of retail risks, and established exchanges like CME saw share declines.
Cross-source coverage
Wire timeline
Kraken Launches U.S. Perpetual Futures After CFTC Approval
Cryptocurrency exchange Kraken has launched perpetual futures contracts for U.S. customers, becoming one of the first regulated platforms to offer the popular crypto derivatives product domestically. The contracts are available on Kraken Pro, allowing traders to take long or short positions on major cryptocurrencies including Bitcoin, Ethereum, Solana, and Dogecoin without expiration dates, as long as margin requirements are met. The move follows May 2026 approval from the U.S. Commodity Futures Trading Commission (CFTC) for regulated perpetual futures offerings, which also cleared a path for Coinbase. Prediction market Kalshi introduced perps earlier in June and saw over $1 billion in trading volume within its first week. Kraken estimates the global annual perpetual futures volume at $60 trillion, with most activity previously occurring on offshore exchanges like Hyperliquid. Kraken remains privately held despite public listing plans.
Yahoo FinanceBitcoin Perpetual Futures Now Available for Trading in the US
On May 29, 2026, the US Commodity Futures Trading Commission (CFTC) cleared the first onshore Bitcoin perpetual futures contract, making a previously inaccessible derivative legal for American investors. Perpetual futures, or 'perps,' are contracts without an expiration date that allow leveraged trading, with some platforms offering up to 100x leverage. Prediction markets Kalshi and Polymarket are launching their own versions. The article explains that while perps can be profitable for platforms collecting trading fees, they are extremely risky for individual traders due to the potential for rapid liquidation. It notes that over 254,000 positions were wiped out in a recent 24-hour period. The piece advises that owning platform tokens like Hyperliquid (HYPE) may be a safer way to gain exposure than trading perps directly.
Yahoo FinanceKalshi ‘Perps’ Surpass $1 Billion In Trading Volume A Week After Launch
Prediction market platform Kalshi announced that trading volumes in its cryptocurrency perpetual futures contracts, known as 'perps,' have surpassed $1 billion U.S. within a week of launch. The company launched perp trading in early June 2026, with the first 24 hours generating over $100 million in volume. Kalshi received regulatory approval from the Commodity Futures Trading Commission (CFTC) on May 29, 2026, making it the first U.S. platform to offer perp contracts. While Coinbase Global has also received regulatory approval to offer perps, it has not yet launched the service. Kalshi reported that its waitlist for perp trading access exceeded one million people at one point. Perps are futures contracts with no expiration date, allowing traders to speculate on cryptocurrency prices like Bitcoin without owning the underlying asset. Kalshi remains privately held.
Yahoo FinanceKalshi Perpetual Futures Surpass $1 Billion in Trading Volume One Week After Launch
Prediction market platform Kalshi announced that trading volume in its newly launched cryptocurrency perpetual futures contracts, known as 'perps,' has surpassed $1 billion within just one week of launch. The product, which debuted in early June 2026, saw over $100 million in trading volume in its first 24 hours. Kalshi received regulatory approval from the Commodity Futures Trading Commission (CFTC) on May 29, making it the first U.S. company to offer perp contracts. The company reported that its waitlist for access to perp trading exceeded one million people. While Coinbase has also received regulatory approval to offer similar contracts, it has not yet launched the service. Perps are futures contracts with no expiration date, allowing traders to speculate on cryptocurrency prices like Bitcoin without owning the underlying asset.
Yahoo FinanceKalshi crypto perpetual futures hit $1 billion in trading volume
Kalshi's crypto perpetual futures crossed $1 billion in trading volume within a week of their launch, the company shared with CNBC. The platform launched trading on the contracts last week, recording over $100 million in volume in the first 24 hours. More than 1 million people had joined the queue for access at its peak. The Commodity Futures Trading Commission approved KalshiEX's BTCPERP contract on May 29, determining it complies with the Commodity Exchange Act. Kalshi CEO Tarek Mansour called the launch an evolution from prediction market leader to next-gen derivatives exchange. The company aims to launch crypto perpetuals on more than a dozen currencies pending regulatory reviews, but will not offer perpetuals on agricultural commodities. Funding rates are updated every eight hours. Kalshi raised a $1 billion Series F at a $22 billion valuation last month and accounts for over 90% of U.S. prediction market activity.
Yahoo FinanceKalshi's Perpetual Futures Trading Volume Surpasses $1 Billion in First Week
Prediction market platform Kalshi announced that trading volume on its newly launched crypto perpetual futures, or 'perps,' has exceeded $1 billion within a week of launch. The product, which launched on Wednesday, saw over $100 million in volume in its first 24 hours. Kalshi received regulatory approval from the Commodity Futures Trading Commission on May 29, making it the first U.S. company to offer perp contracts. A company spokesperson said the product is the fastest-growing in Kalshi's history, with a waitlist of over 1 million people. The global perps market is estimated at $90 trillion in annual volume, but was previously inaccessible to U.S. traders. Kalshi's previous $1 billion milestone across its event contracts took 40 months to achieve.
US Top News and AnalysisFirst US-Regulated Perpetual Futures Launch, Shaking Up Wall Street Derivatives Market
Perpetual futures, a derivative product popularized in crypto markets, have been launched legally in the United States for the first time on the Kalshi exchange, following CFTC approval. The contracts, initially tied to cryptocurrencies and running on the Ethereum blockchain, allow traders to bet on assets with leverage and no expiration date. The launch has spooked shareholders of established exchanges like CME Group and Cboe, whose shares have fallen for three consecutive weeks. Offshore platforms like Hyperliquid and Binance already offer perpetuals on assets from oil to pre-IPO stocks like SpaceX, generating billions in daily volume. Kalshi reported $100 million in trading volume on its first day. The product's arrival marks a milestone for U.S. derivatives markets, though critics compare it to a casino due to high leverage and continuous trading.
Yahoo FinanceCFTC approves first US perpetual futures contract for bitcoin via Kalshi and Coinbase
The Commodity Futures Trading Commission (CFTC) has granted prediction-market operator Kalshi permission to launch a perpetual futures contract tied to bitcoin, marking the first time such a product has received US regulatory approval. Separately, the CFTC also allowed crypto exchange Coinbase to offer its US clients access to cryptocurrency options and perpetual futures traded on Deribit, an offshore derivatives exchange owned by Coinbase. Perpetual futures, which originated in the crypto space in the 2010s, have become a popular offshore derivative for betting on prices of cryptocurrencies and even real-world assets like oil and gold. Kalshi plans to seek approval for similar contracts on over a dozen cryptocurrencies. Institutional clients can begin onboarding immediately, while a timeline for retail access remains unspecified.
Yahoo FinanceCoinbase and Kalshi Launch First Regulated Perpetual Crypto Futures for US Investors
On May 29, 2026, Coinbase and Kalshi announced the introduction of perpetual crypto futures for US investors through domestic, CFTC-regulated exchanges. This marks the first time such instruments, which lack expiration dates and allow high leverage (up to 50:1), are available onshore. The Commodity Futures Trading Commission granted listing approval but also issued a policy statement requiring case-by-case review for new perpetual products beyond approved assets. The move aims to provide a secure alternative to offshore venues. Perpetual futures trading volume reached $61.7 trillion in 2025, up 29% from 2024. Critics warn of significant risks for retail investors due to leverage. The launch also represents Kalshi's expansion from prediction markets into financial derivatives.
Yahoo FinanceKalshi expands from prediction markets into crypto perpetual futures
Prediction markets giant Kalshi announced plans to launch perpetual futures contracts, starting with crypto perpetuals, offering U.S. traders a regulated alternative to offshore platforms. Perpetual futures, or 'perps,' are futures-style contracts with no fixed expiration date, using funding payments to track underlying asset prices. Kalshi cited explosive growth in offshore perpetuals, from $28 trillion in annual volume in 2023 to over $90 trillion in 2025. The products will be offered under CFTC supervision, with funding rates charged every eight hours. Competitor Polymarket is also pushing into 24/7 long-short trading with its own perps offering. Kalshi is leveraging its regulated status as a key differentiator in this massive but largely offshore-dominated market.
US Top News and Analysis