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Plus500 Starts Offering Kalshi's Never-Expiring Futures in the US
Plus500 began offering Kalshi's perpetual futures through its US brokerage on Wednesday. It said it is the first futures commission merchant, apart from Kalshi Prime, to do so. Perpetual futures never expire, and Plus500 clears trades as a member of Kalshi Klear.
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What happened
Plus500 began offering Kalshi's perpetual futures through its US brokerage on Wednesday. It said it is the first futures commission merchant, apart from Kalshi Prime, to do so. Perpetual futures never expire, and Plus500 clears trades as a member of Kalshi Klear.
Confirmed
Global impact / market context
This gives US traders a regulated way to hold futures positions without rolling contracts, which means moving an expiring bet into a new one. Plus500 can earn fees from institutional clients and partner brokers, while Kalshi gains reach beyond its own brokerage.
Analyst inference
Kalshi's perpetual futures traded over $5.5 billion in their first two weeks after Commodity Futures Trading Commission approval in May. Webull plans similar crypto contracts from November, signaling growing competition among brokers to carry these newly regulated products.
Analyst inference
What to watch
- Webull said on October 20 that eligible US customers will get Kalshi-listed crypto perpetual futures through Webull Futures accounts from November, also cleared by Kalshi Klear. Confirmed
- Watch whether more futures commission merchants follow Plus500 and Webull in offering Kalshi's perpetual futures, since broader broker access could widen the products' reach among US traders. Proposed
- Track whether trading volume stays elevated, because fees from routing and clearing these contracts could add revenue for Plus500 and pressure rivals to respond quickly. Analyst inference