Kalshi Launches XRP Perpetual Futures for U.S. Traders Amid Regulatory Shift

Kalshi has launched XRP perpetual futures contracts for U.S. traders, expanding its offerings in the regulated American crypto derivatives market.

This move comes after the Commodity Futures Trading Commission allowed Kalshi to offer perpetual futures products linked to major altcoins, including ether, solana, dogecoin, and XRP, following a self-certification process on June 1.

The CFTC has shown a case-by-case approach to reviewing perpetual futures based on assets other than bitcoin, taking into account the characteristics of each asset. Kalshi later cleared regulatory hurdles to launch an XRP contract, which it calls 'American Perpetual.'

The listing resulted in $100 million in trading volume within 24 hours, with open interest standing at about $3 billion.