The American financial landscape has just been turned upside down. The Commodity Futures Trading Commission (CFTC) has authorized Kalshi to launch the first fully regulated Bitcoin perpetual futures contracts in the United States. A historic decision that marks a decisive turning point for the institutional adoption of crypto-assets.
In brief
- CFTC authorizes Kalshi to launch regulated Bitcoin perpetual contracts.
- This is the first Bitcoin perpetual futures approved through this regulatory process in 2026.
- This decision intensifies direct competition with Polymarket and offshore platforms like Hyperliquid.
CFTC officially opens the door to Bitcoin perps
On May 29, 2026, the CFTC issues a Order for Approval in Kalshi for the launch of the BTCPERP contract. This is a perpetual contract referencing the spot price of bitcoin, treated like a futures contract. A company spokesperson said it would launch in the coming month.
This green light is based on the Commodity Exchange Act. The Commission concluded that the BTCPERP contract respects the law and regulations in force. This includes the Core Principles applicable to designated contract markets.
Kalshi therefore becomes the first American entity to offer these financial instruments under strict federal supervision. Above all, this decision definitively legitimizes bitcoin as a leading financial asset in the eyes of Washington.
A $90,000 billion market finally accessible to Americans
Kalshi says the perpetual futures asset class (which supported $90 trillion in trading volume last year) was until now entirely closed to US institutions. CEO Tarek Mansour describes this approval as the evolution of Kalshi towards a “new generation derivatives exchange”.
The promise: onshore, safe and regulated perps that are capable of improving capital allocation for American players.
Until now, this market was dominated by offshore platforms. We are mainly referring to the DEX Hyperliquid, considered the undisputed leader in this segment. The platform is the subject of pressure from traditional financial players concerned about its impact on the integrity of the markets.
Kalshi accelerates against Polymarket
This approval also redefines the rivalry between the two giants of the American predictive market.
Kalshi describes this expansion as its most significant since the introduction of event contracts. For its part, Polymarket announced last month its intention to also offer perpetual futures to its users. The company even goes so far as to list underlyings like Nvidia, Coinbase, silver and gold, with leverage up to 10x.
One thing is certain: the approval of Kalshi's BTCPERP by the CFTC marks a turning point for bitcoin perpetual futures in the United States. The market is now watching how Kalshi will realize this opportunity against Polymarket and offshore giants. The next few weeks will be decisive!
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