TL;DR
- KalshiEX has submitted proposed listing criteria for perpetual security futures linked to 58 stocks and ETFs.
- The proposal was published on September 18 under SEC File No. SR-KALSHIEX-2026-02.
- The products are not live. CFTC approval is still pending.
KalshiEX is seeking regulatory approval for a product that would bring cryptocurrency-style perpetual futures mechanisms to the US stock market.
A rule filing published by the SEC under File No. SR-KALSHIEX-2026-02 proposes to include standards for perpetual security futures associated with 58 stocks and exchange-traded funds.
Kalshi aims to have permanent exposure to stocks
Perpetual futures are already a core part of cryptocurrency trading, as contracts can remain open without a specific expiration date and use financing mechanisms to keep prices in line with the underlying market.
Applying a similar structure to US-listed stocks and ETFs would be a significant expansion of this model.
Calci’s filing sets out the proposed framework, but does not make contracts immediately available for trading.
The document clearly indicates that the CFTC has not yet approved the proposed rule change.
Submitting an application is a regulatory step, not a product launch
This situation is the most important limitation.
The products are not live, and the September 18 filing should not be taken as evidence that U.S. perpetual stocks have actually begun trading on Kalshi.
Instead, registration gives regulators and market participants a formal proposal for review.
If this structure is eventually approved, it could blur some of the traditional boundaries between prediction market infrastructure, derivatives exchanges, and cryptocurrency-style perpetual trading.
However, for now, the confirmed story is procedural: KalshiEX has proposed perpetual securities futures contracts tied to 58 stocks and ETFs, and regulatory approval is still pending.
This article was written by News Desk and edited by Samuel Ray.