Kalshi filed with the CFTC to list perpetual futures tied to US stocks and copper, expanding beyond Bitcoin after securing its first perp approval in May.
Crypto & Derivatives News
Kalshi submitted two applications to the Commodity Futures Trading Commission on Aug. 18 to list perpetual futures contracts on a broad US equity index and on copper, extending the prediction market platform's push into financial derivatives following its first such approval earlier this year. The CFTC cleared Kalshi to list a perpetual contract tied to Bitcoin (BTC) prices in late May 2026, the first time such products were permitted to trade in the US.
The first of the two new applications covers a contract Kalshi calls the "US500 Contract," which would track the MerQube US Large Cap Index. That index measures the performance of the 500 largest companies listed and headquartered in the US.
The second filing covers a contract named "COPPERPERP," a perpetual futures contract on the spot price of copper, priced in US dollars per pound and referencing the Pyth Network XCU-USD price feed.
Kalshi Expands Beyond Its Bitcoin Perp
Perpetual futures are derivative contracts with no fixed expiration date, allowing investors to speculate on price movements without holding the underlying asset. The products have been widely traded on offshore crypto platforms but had no US regulatory authorization until the CFTC acted on Kalshi's BTC application in May.
Related Article: Washington Court Orders Kalshi To Pull Most Prediction Markets in States
That approval drew a legal challenge from CME Group, which filed suit against the CFTC in June 2026. CME alleged the agency violated the Commodity Exchange Act when it approved perpetual futures for Kalshi and Coinbase in May, arguing the products would compete directly with its existing derivatives offerings and cause financial harm to the exchange.
The new applications move Kalshi into equity and commodity-linked derivatives, broadening the scope of what the platform is seeking permission to offer. Kalshi had not responded to a request for comment from The Block at the time of publication.
It is not known when the CFTC will review either application or whether the ongoing CME lawsuit could affect its timeline.
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