Webull partners with Kalshi to clear crypto perpetual futures for US traders
Online trading platform Webull said Tuesday it has partnered with prediction market operator Kalshi to offer crypto-linked perpetual futures to US customers. The products will debut in November. The initial listing will feature Bitcoin and selected other crypto assets. Webull customers will trade through existing futures accounts, with Kalshi listing and clearing the trades. The deal gives Webull a regulated path into crypto derivatives by routing through Kalshi's CFTC-regulated infrastructure.
This is the first time a major US retail brokerage has used a CFTC-registered prediction market exchange to clear crypto perpetuals for American customers. Webull gains a compliant shortcut into crypto derivatives without building its own regulated clearing stack. Kalshi secures distribution to millions of US retail users and expands beyond event contracts into crypto perpetuals before year-end rivals can match.
The structure mirrors Robinhood's partner-dependent model with Kalshi, but for crypto rather than sports. Competitors with direct CFTC designations like Blockchain.com may pitch stability, yet Kalshi is already proving its infrastructure can carry multiple asset classes under one federal umbrella. Webull plans to add more products before year-end.
Joins Robinhood in relying on Kalshi's CFTC-regulated infrastructure rather than pursuing a direct exchange license, as Blockchain.com is doing with its own pending CFTC application.