Kalshi Expands U.S. Crypto Futures Trading With Five New Digital Assets

TLDR

• On September 4, Kalshi introduced perpetual futures contracts for five cryptocurrencies: BNB, Cardano, Worldcoin, Aave, and Venice Token
• These CFTC-regulated contracts settle in U.S. dollars and feature no expiration dates
• Leverage caps vary from 1.9x on Venice Token to 4.5x on BNB
• The platform’s U.S. crypto derivatives portfolio now includes Bitcoin plus 17 additional digital assets
• An ongoing legal dispute with CME Group over contract classification continues, with the CFTC seeking dismissal

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The CFTC-regulated trading platform Kalshi has broadened its cryptocurrency derivatives portfolio, introducing perpetual futures contracts for five additional digital tokens. U.S.-based eligible traders gained access to these new instruments on September 4.

This latest expansion brings BNB, Cardano, Aave, Worldcoin, and Venice Token into Kalshi’s trading ecosystem. The platform previously offered similar contracts for major cryptocurrencies including Bitcoin, Ether, XRP, Solana, and several other digital assets.

Contract Specifications and Features

Each of the newly launched contracts uses U.S. dollar margining and settlement. Market participants can establish both long and short positions without facing mandatory expiration dates.

The maximum allowable leverage differs across the five assets. BNB traders can access up to 4.5x leverage, whereas Venice Token positions are restricted to 1.9x. Greater leverage amplifies potential returns but also elevates liquidation risk when market movements prove unfavorable.

These derivatives don’t mandate actual ownership of the underlying cryptocurrencies. Instead, profit and loss calculations derive from fluctuations in each token’s benchmark price.

Branded as “American Perpetuals,” these instruments are offered through Kalshi’s CFTC-designated contract market. The platform secured approval for the new listings through submissions to the regulator’s public filing system.

Ongoing Litigation Between CME and the CFTC

Earlier this year, CME Group initiated legal proceedings against the CFTC following the agency’s approval of Kalshi’s Bitcoin perpetual contract. CME contends that perpetual instruments should fall under swap regulations rather than futures classification. This distinction carries significant weight due to divergent regulatory requirements between the two categories.

On September 2, the CFTC countered by submitting a dismissal motion in CME’s lawsuit. Agency representatives maintained that CME has no valid standing since it can list comparable instruments on its own regulated marketplace.

“This lawsuit is much ado about nothing,” CFTC lawyers stated in their submission. This represents the agency’s legal argument rather than a judicial determination.

At the time of reporting, no court date had been scheduled. Judges have yet to decide on CME’s legal standing or the proper classification framework for perpetual contracts.

Market Performance and Future Listings

Multiple tokens among the new offerings experienced price appreciation coinciding with the contract debut. BNB increased over 5% to approximately $723, accompanied by an 83% surge in 24-hour trading activity. Cardano rallied nearly 10% to reach $0.222.

Both Worldcoin and Aave registered upward momentum as well. These price movements occurred within a wider cryptocurrency market upswing and weren’t exclusively attributable to the Kalshi contract launches.

The platform has submitted additional applications to the CFTC covering Stellar, Polkadot, and Hedera. Specific activation dates for these prospective contracts remained unannounced at publication time.

The resolution of CME’s legal challenge carries significant ramifications for U.S. perpetual futures regulation. Should the court grant dismissal, CME’s objections would conclude. Alternatively, if litigation advances, judicial interpretation could establish precedent regarding whether such products belong in the futures or swaps regulatory category.

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Source: https://blockonomi.com/kalshi-expands-u-s-crypto-futures-trading-with-five-new-digital-assets/