Kalshi launches cash-settled Bitcoin perpetual contracts for 24/7 trading
The prediction market operator said the new Bitcoin product uses a funding-rate mechanism tied to spot prices, extending round-the-clock access to a common crypto derivatives structure.
BTC
Fact Check
Kalshi's own X post on 2026-06-03 confirms Bitcoin Perpetuals are live. The CFTC's official order (orgdcmkexbtxperporder26601.pdf) directly describes BTCPERP as cash-settled, referencing spot price, with a funding rate mechanism — matching every element of the claim. The Lowenstein Sandler/JDSupra legal alert independently confirms CFTC approval on May 29, 2026, alongside a CFTC staff advisory on 24/7 trading operations. BlockBeats provides corroborating Chinese-language coverage of the same launch.
Summary
Kalshi has launched Bitcoin perpetual contracts, adding a cash-settled product that trades 24/7. The company said the contracts use a funding-rate mechanism tied to spot prices, a standard feature in perpetual futures (derivatives without expiry) designed to keep prices aligned with the underlying market. The announcement was made on June 3.
Terms & Concepts
- Bitcoin perpetual contracts: Derivatives without expiry linked to Bitcoin.
- cash-settled: Paid in cash, not delivered in assets.
- funding-rate mechanism: Periodic payment system that helps track spot prices.