Kalshi launched its first stock-index perpetual future in the United States on October 6, 2026, extending its prediction-market business into leveraged exposure to the broader equity market. The contract tracks Kalshi’s US 500 index, which covers 500 of the largest U.S. companies weighted by market capitalization. Traders can take leveraged long or short positions without a fixed expiration date. Periodic funding payments between long and short traders are intended to keep the contract’s price aligned with the underlying index. Kalshi filed with the Commodity Futures Trading Commission (CFTC) for the product in August. CEO Tarek Mansour said stock-market exposure was the next step toward making Kalshi a full-service financial exchange. The company is also preparing to file with U.S. regulators for a perpetual contract tracking West Texas Intermediate crude oil, as it expands beyond event contracts tied to elections, sports and other real-world outcomes.