Kalshi files rules for 60 single-stock perpetual futures on major US equities
Kalshi filed trading rules for up to 60 large-cap US stock perpetual futures. The filing covers single-name contracts on Tesla, Apple, Nvidia, and other major listed companies. It advances a plan first disclosed last week. Citadel Securities has warned against the proposal, raising concerns about a shadow market outside SEC oversight. The contracts would trade under CFTC rules with joint SEC review required for the underlying securities.
Single-stock perpetual futures would let Kalshi keep retail positions open across market closes with no monthly roll cost, directly targeting Robinhood's equity options traders and offshore crypto perp users. CME lists no perpetual equivalent, so its defense depends on regulatory delay. The joint SEC-CFTC filing means either agency can slow approval or object outright.
Citadel Securities has already warned against the plan, adding dealer-desk resistance to exchange opposition. Every week Kalshi advances this template while CME litigates on other fronts, it hardens margin and fee structures that rivals must later match or cede retail flow. The first platform to clear single-stock perps under dual supervision wins a durable cost-structure advantage.