Kalshi and Polymarket to Launch Perpetual Futures on Crypto Assets

Prediction markets enter the perpetual futures arena

Kalshi and Polymarket, two of the largest prediction market platforms, have nearly simultaneously announced plans to roll out perpetual futures contracts on cryptocurrencies. Both services intend to give traders access to leveraged positions on digital assets.

According to The Information, Kalshi will introduce its product within the coming weeks. The platform will initially offer contracts on Bitcoin and other digital assets before expanding into commodities. U.S. dollars will serve as collateral at launch, with stablecoin support planned for the second quarter.

Kalshi secured a margin trading license in the United States last month, paving the way for leveraged products, The Information reported.

Polymarket targets international traders

Polymarket confirmed its own perpetual futures plans via social media, sharing a video showcasing a trading interface for crypto, equities, and commodities futures.

"We price the future. Now you can lever it. Perps are coming to Polymarket. Sign up for early access" — Polymarket (@Polymarket), original post

The platform has opened a waitlist for early access. The perpetual futures product will be available on the international version of the exchange, which operates outside U.S. jurisdiction.

Why this matters

Perpetual futures — contracts with no expiration date — rank among the most popular trading instruments in the crypto industry. The move by two major prediction platforms into this space signals a blurring of lines between prediction markets and traditional derivatives exchanges.

The product expansions come amid growing regulatory attention to prediction markets. CFTC Chair Michael Selig has previously urged officials to accelerate the establishment of clear rules for the sector.

Bernstein analysts suggested in April that the combined volume of prediction markets could reach $1 trillion by 2030. Adding leveraged perpetual contracts could significantly boost trading volumes on both platforms and attract a new cohort of derivatives-focused traders.

The competitive dynamics between the two platforms are playing out across different jurisdictions. Kalshi is focused on the U.S. market, armed with its domestic margin trading license, while Polymarket is directing its futures offering toward an international audience. This geographic divergence could allow both platforms to grow without directly cannibalizing each other's user base, at least in the near term.

The simultaneous push into perpetuals underscores how prediction markets are rapidly evolving beyond simple event-based wagers into full-fledged financial trading venues.