Odaily Planet Daily reports that the prediction market platform Polymarket launched its perpetual contracts product, Polymarket Perps, on September 3. The initial offering includes 10 markets covering Bitcoin, Ethereum, Solana, HYPE, gold, silver, WTI crude oil, the S&P 500, the Nasdaq 100, and a contract tracking SpaceX stock. Within hours, the number of markets expanded to 67.
This product has no expiration date; its contract price continuously tracks the underlying asset and maintains alignment with the spot price through an hourly funding rate, with both positive and negative funding rate caps set at 4% per hour. Leverage of up to 20x is supported for cryptocurrencies, S&P 500, crude oil, gold, and silver; up to 10x leverage is supported for individual stocks and other real-world assets.
U.S. traders cannot place Perps orders and will be redirected to Polymarket US, which is regulated by the Commodity Futures Trading Commission (CFTC). This arrangement stems from Polymarket’s 2022 settlement with the CFTC, during which the company was fined $1.4 million for operating an unregistered swap execution facility and was required to cease offering non-compliant contracts. (Decrypt)