Kalshi and Bitnomial win CFTC approval for Bitcoin perpetual futures
Kalshi and Bitnomial have CFTC approval to offer Bitcoin perpetual futures contracts in the US, effective May 29, 2026. Kalshi's BTCPERP product is live as a true Bitcoin perpetual on a designated contract market, with leverage putting $67,000 in play. Bitnomial's crypto perpetuals are also live and US-regulated. Kalshi separately filed paperwork on August 18, 2026 to offer S&P 500 perpetual futures, expanding into equity-index derivatives.
Kalshi's Bitcoin perpetual futures give American traders regulated onshore access to a product previously confined to offshore exchanges. That strips the compliance risk from leveraged Bitcoin exposure and puts Kalshi in direct competition with unregulated venues for retail margin demand. The $67,000 leverage sizing signals an aggressive grab for traders who would otherwise use overseas platforms.
The timing tightens Kalshi's window: its S&P 500 perpetual filing is already in motion, and CME Group sued over its earlier crypto derivatives expansion. Each new product line forces incumbent futures exchanges to defend their margin and fee structures against a prediction-market entrant with lower infrastructure costs. Bitnomial's parallel launch shows the CFTC is clearing multiple venues for crypto perps, so the race is for trader share rather than regulatory monopoly. Kalshi must build volume fast before competitors match its product template.