Kalshi continues to expand its crypto derivatives presence in the U.S. market. On September 4, the platform added five new crypto perpetual contracts标的为 BNB, Cardano, Worldcoin, Aave, and Venice Token, available to eligible U.S. traders.
Add 5 new perpetual contracts
These contracts use USD as both margin and settlement currency, have no fixed expiration date, and support both long and short positions. According to the platform’s product information, the maximum leverage varies by asset, with BNB at approximately 4.5x and VVV at approximately 1.9x.
With the launch of these five assets, Kalshi now offers perpetual contracts for Bitcoin and 17 other altcoins. Existing products also include assets such as Ethereum, XRP, Solana, Hyperliquid, and Zcash.
- BNB corresponds to the BNB Chain ecosystem
- ADA corresponds to the Cardano network.
- AAVE is the governance token of the Aave protocol.
Among them, WLD and VVV are associated with AI-related projects. Perpetual contracts provide price exposure only and do not require users to hold the corresponding tokens; profits and losses depend on changes in the reference price and the position direction.
CFTC registration is not subject to item-by-item voting.
Kalshi is a designated contract market regulated by the U.S. Commodity Futures Trading Commission (CFTC). Prior to the launch of this new product, the platform submitted the relevant contract materials through the CFTC’s public filing system.
However, filing into the CFTC system does not mean the Commission has individually voted to approve each contract. Under current procedures, registered exchanges may launch certain products through applicable certification or review processes; therefore, “filed” is not the same as “individually approved.”
The CME lawsuit has not yet been ruled on.
The legal classification of crypto perpetual futures remains unresolved. CME Group previously sued the CFTC after the regulator permitted Kalshi to launch bitcoin perpetual futures and granted Coinbase related regulatory exemptions.
CME's core argument is that such perpetual products should be classified as swaps rather than traditional futures. If treated as swaps, a different regulatory framework would apply. On September 2, the CFTC requested the court to dismiss CME's lawsuit, stating that CME has not demonstrated any specific financial harm resulting from this issue.
Currently, the court has not yet ruled on issues of standing or how the products should be classified. For Kalshi, the platform can continue offering new contracts in the short term; the more significant upcoming development remains how the federal court responds to the CFTC’s motion to dismiss.
Additional information: The report mentions that filings for other assets, such as XLM, DOT, and HBAR, are also reportedly in progress, but the specific listing dates have not been confirmed as of publication.