US CFTC Approves Kalshi's Bitcoin Perpetual Futures Contract

The US Commodity Futures Trading Commission (CFTC) has taken another step towards embracing digital asset derivatives by approving Kalshi's request to list a perpetual futures contract tied to the spot price of bitcoin.

The BTCPERP Contract, submitted by KalshiEX, LLC, will allow users to trade a derivative that tracks the underlying asset's price without a traditional expiration date. This type of contract has become increasingly popular in cryptocurrency markets but is still a relatively new concept within regulated US futures framework.

The approval was granted under voluntary review and requires Kalshi to continue operating the BTCPERP Contract in accordance with all applicable provisions of the Commodity Exchange Act and CFTC regulations. The agency emphasized that the approval was based on specific facts and circumstances presented by Kalshi and encouraged market participants interested in launching perpetual products tied to other underlying assets to engage with Commission staff and seek approval through the voluntary product review process.

This development marks a significant milestone for regulated cryptocurrency derivatives in the US, as it provides a framework for how perpetual contracts may be evaluated within these markets. The CFTC's evolving approach to digital asset derivatives is expected to continue driving innovation and growth in this area.