🇺🇸 JUST IN: Kalshi plans to seek regulatory approval to launch the first regulated US perpetual futures on single stocks like Tesla, Apple, and Nvidia, WSJ reports.

What happened

Kalshi, a US platform, plans to ask regulators for permission to offer the first regulated perpetual futures on individual stocks such as Tesla, Apple, and Nvidia, according to the Wall Street Journal. Perpetual futures are contracts without an expiry date, allowing ongoing bets on price moves.

Confirmed

Global impact / market context

If approved, investors could trade these contracts on major stocks with borrowed money, potentially increasing price swings and affecting how these companies' shares are bought and sold. This may also pressure traditional exchanges to offer similar products, changing the competitive landscape for stock trading.

Analyst inference

This move comes as retail and institutional investors increasingly use perpetual futures in crypto markets. Bringing such products to regulated US stock trading could attract more speculative activity, possibly raising volatility in the underlying stocks and influencing how companies manage their capital spending and investor relations.

Analyst inference

What to watch

1. Watch for Kalshi's formal application to the US regulator, which will detail the contract terms and risk controls. Approval or rejection will determine whether these products launch. Confirmed
2. Consider how regulators might respond, given concerns about investor protection and market stability. They could impose strict requirements on collateral or trading limits, which would shape the product's appeal. Proposed
3. Observe if other platforms follow Kalshi's lead, potentially increasing competition and driving innovation in stock derivatives. This could lead to broader availability of perpetual futures, affecting trading volumes and price discovery for single stocks. Analyst inference

Evidence

• x.com