Kalshi lists McDonald's and Qualcomm perpetuals with up to 4.9x leverage
Kalshi, a CFTC-regulated US exchange, has listed perpetual futures on McDonald's and Qualcomm stock. The McDonald's contracts, symbol KXMCDPERP, and Qualcomm contracts, symbol KXQCOMPERP, allow traders to go long or short with leverage up to 4.9x. Both listings include live stock pricing feeds. The launches came on the same day, expanding Kalshi's single-stock perpetual lineup beyond the CFTC's recent clearance of the product category.
The McDonald's and Qualcomm listings arrive hours after the CFTC cleared single-stock perpetual futures, letting Kalshi be first to market in a freshly opened lane. This gives Kalshi federally regulated products that generate year-round fee income, insulating a slice of revenue from the state gambling litigation threatening its event-contract core. The 4.9x leverage cap sits below crypto perpetual norms but still amplifies retail risk, which puts Mansour's recent guardrail talk to an immediate test.
Every leveraged product Kalshi lists before a swaps-label ruling from the CFTC becomes harder to restructure if the White House review lands unfavorably. Competitors like Polymarket and Robinhood must now match pace or cede the single-stock perpetual market to Kalshi's head start. The revenue from these instruments must scale quickly to justify Kalshi's $40 billion valuation after its $1 billion funding round.