Kalshi Files for Equity Index and Copper Perpetual Futures Contracts
Kalshi has filed with the Commodity Futures Trading Commission (CFTC) to launch perpetual futures contracts tied to U.S. equity indexes and copper, marking a significant expansion into traditional derivatives markets beyond its prediction market origins. The proposed equity index contract is based on the MerQube U.S. Large Cap Index, which tracks 500 of the largest publicly traded companies in the United States. These contracts are not subject to SEC approval because they fall under CFTC jurisdiction as broad-based equity baskets. The copper perpetual futures contract will be cash-settled and reference the spot price using Pyth Network's XCU/USD feed, with each contract representing 1,000 pounds of copper. Kalshi aims to position itself as a multi-asset derivatives exchange by expanding into new asset classes like precious metals. The company previously launched regulated bitcoin perpetual futures in May and saw over $90 trillion in global perp volume in 2025.
Topics: CFTC commodities derivatives Kalshi