Perpetual Futures
Kalshi receives CFTC approval for altcoin perpetual futures
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Kalshi has secured formal approval from the Commodity Futures Trading Commission to offer perpetual futures on several altcoins in the United States. The move positions the platform to expand into an emerging market for crypto derivatives. Hyperliquid also saw significant trading activity following the regulatory development.
Arthur Hayes has cautioned that Hyperliquid faces risks to its market position in perpetual futures trading. The warning centers on the protocol's use of trading fees for token burns.
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The Commodity Futures Trading Commission approved the first US-regulated bitcoin perpetual futures contract on Friday. KalshiEX LLC received permission to list BTCPERP, a cash-settled contract with no expiration date. The agency also issued guidance allowing Coinbase Financial Markets to route US customers to certain Deribit products.