Kalshi trading in 'perps' crosses $1 billion in volume within a week of launch
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- Kalshi launched crypto perpetual futures on Wednesday, generating over $100 million in notional volume in the first 24 hours.
- Kalshi's perpetual futures total notional volume exceeded $1 billion within a week of launch.
- Kalshi received CFTC approval on May 29, becoming the first U.S. firm authorized to offer perpetual contracts.
- Coinbase also secured regulatory clearance on May 29 to provide U.S. users access to global perpetual contracts via an affiliate.
- Kalshi reported a waitlist that at one point topped 1 million users, making perps its fastest‑growing product in company history.
- Kalshi CEO Tarek Mansour will appear on CNBC’s “Fast Money” on Tuesday at 5 p.m. ET.
Why it matters: Traders gain a domestic venue for perpetual futures, an asset class with $90 trillion annual volume, while Kalshi secures a first‑mover advantage and validates market appetite, as evidenced by a 1 million‑plus waitlist and rapid $1 billion trading activity; Coinbase also now offers U.S. traders access to global perpetual contracts, expanding competition.
