Kalshi Launches US 500 Perpetual Future as It Expands Into Stock Index Derivatives

Kalshi has launched a US 500 perpetual futures contract, giving traders leveraged exposure to a broad stock index without using a fixed expiration date.

Ad

Ad

Kalshi Adds US 500 Perpetual Future

Kalshi launched its US 500 perpetual futures contract, which tracks 500 large American companies. Traders can take long or short positions based on moves in the broader US stock market.

Kalshi received CFTC approval to offer US 500 perpetual futures, expanding beyond its crypto and metal perps. The company filed for the US500PERP contract with the regulator in August.

Unlike standard futures contracts, the new product does not have a fixed expiration date. Therefore, traders do not need to roll positions into later contracts. Funding payments between long and short traders help keep the contract price aligned with the index.

The cash-settled product tracks the MerQube US Large Cap Index. Kalshi said perpetual futures can offer greater capital efficiency for traders seeking broad market exposure. However, leveraged positions can also increase losses when the market moves against a trader’s position.

Ad

Ad

Kalshi Expands Beyond Prediction Markets

The launch takes Kalshi further beyond its core prediction markets covering elections, sports, and other real-world events. The company has also expanded into crypto and metals products as it develops a broader trading platform.

Meanwhile, Polymarket has introduced Protocol V2, a full rewrite of the smart contracts powering its prediction markets. The move comes as major prediction market platforms continue upgrading their trading systems and expanding product offerings.

CEO Tarek Mansour said, “Stock market exposure is the next step towards Kalshi becoming a full-service financial exchange.” He added that perpetual futures provide traders with another way to access stock market moves.

Meanwhile, Kalshi said a single perpetual contract can concentrate trading activity in one market. Traditional futures spread liquidity across different expiry dates, while perpetual contracts do not expire.

The US 500 product also lets traders take short positions on the broader market without using traditional options. Gains and losses move directly with changes in the linked index.

More Derivatives Products Are Planned

Kalshi is also working on additional perpetual futures tied to other traditional markets. The company has prepared plans for a West Texas Intermediate crude oil perpetual contract.

Furthermore, Kalshi has experimented with products connected to specific stocks in the United States. Those contracts would also permit long or short leveraged positions without holding the actual shares.

Kalshi’s listing on the US 500 will give the platform access to a market that has a long history of being serviced by major futures exchanges. However, the company is using perpetual contracts to offer a different structure for stock index trading.

For more options, traders can explore the best crypto prediction markets for deeper liquidity and broader market listings.