PEPE Meme Coin Coming on Kalshi Prediction Market?
Highlights
- Prediction market Kalshi filed with the US CFTC to launch PEPE perpetual futures.
- But withdrew KPEPEPERP just days after due to undisclosed reasons.
- PEPE coin price has dropped more than 3% in 24 hours.
Prediction market Kalshi filed with the US Commodity Futures Trading Commission to launch perpetual futures contracts tied to Pepe meme coin. However, the platform withdrew it just two days after filing it, despite having listed Dogecoin and Shiba Inu meme coins.
Kalshi Withdraws PEPE Meme Coin Perpetual Futures
KalshiEX LLC filed with the CFTC to launch perpetual futures for PEPE meme coin, according to the latest filing. The platform self-certified the KPEPEPERP contract for initial listing and intends to list the contract on a continuous basis.
KPEPEPERP is mentioned as a cash-settled perpetual, with no fixed expiration and no delivery of tokens. Kalshi also mentioned details including one kPEPE spot price underlying, CF Benchmarks as the underlying price index, trading hours, and funding and settlement pricing similar to kSHIB perp futures.
However, Kalshi has withdrawn the filing on October 1 for undisclosed reasons. Notably, it was filed on the same day as Uniswap perpetual futures, which is approved and listed on the platform.
The platform framed the product as a hedge for holders with real exposure to PEPE, including liquidity providers, market makers, and OTC desks.
As CoinGape reported on Monday, the CFTC approved S&P 500 stock index perp. This expanded Kalshi’s offerings beyond crypto and metal perp futures. The approval also put it in direct competition with traditional derivatives exchanges such as CME.
PEPE coin price has dropped more than 3% to $0.00000435 over the past 24 hours. The meme coin has rallied more than 20% in a month. Trading volume has also dropped more than 20% over the past 24 hours.
To explore how compliant platforms compare in the event contract space, check out our guide on the best regulated prediction markets US has to offer.
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