Kalshi has proposed adding Chapter 14 to its rulebook to permit perpetual securities futures on U.S. stocks and exchange-traded funds. The no-expiry contracts would use periodic funding-rate payments between long and short positions to keep prices aligned with underlying spot markets, while Kalshi Klear would handle clearing. Eligible underlyings would require more than 20 million shares of deliverable supply, market capitalization of at least $100 billion and average daily trading volume above $450 million over the prior six months. Most contracts would represent 100 shares. Kalshi previously said listed products would also face continuing market-value and liquidity standards, and the CFTC had not approved its proposal.