Plus500 becomes first FCM to launch Kalshi perpetual futures
Plus500 announced it will offer Kalshi perpetual futures through its US Futures Commission Merchant, making it the first FCM to clear the product. The launch follows Kalshi's introduction of the first CFTC-regulated perpetual futures contract in the US. The offering connects Plus500's proprietary trading platforms to Kalshi's regulated event-contract markets. The partnership expands Kalshi's distribution through traditional brokerage infrastructure.
Plus500's FCM status gives Kalshi perpetual futures a direct path to retail traders through existing brokerage accounts, not prediction-market-only registrations. That matters because Kalshi's earlier crypto perpetual launches relied on partner brokerages with their own user bases; Plus500 brings a global client pool and in-house clearing. The structure lets Kalshi test whether event-contract perpetuals can compete for standard futures volume, not just crypto-native traders.
For Plus500, the deal adds a differentiated US product as rivals consolidate around vanilla crypto perpetuals. The real test is whether Plus500's global users trade Kalshi's regulated contracts in size, or whether the product stays a niche listing. Kalshi's year-end product push now spans multiple distribution partners, each with distinct user demographics that will reveal which retail segment actually wants CFTC-regulated perpetuals.
Kalshi's latest major retail distribution deal for perpetuals through Plus500, following its first CFTC-regulated perps launch in May, positions the exchange as the default CFTC-regulated infrastructure for brokerages seeking compliant derivatives access.