Kalshi has launched perpetual contracts that allow leveraged long or short positions on more than 50 stocks and exchange-traded funds listed on the NYSE and NASDAQ. Trading volume exceeded $300 million before the official announcement on November 5, 2026, following a stealth launch a few days earlier. Each contract represents 0.02 of a share, has no expiration date or rollover fees, and uses daily funding payments settled at 4:00 PM ET. Initial leverage reaches about 4.9x for some assets, while the contracts are cleared by Kalshi Klear LLC. After an application filed on September 18, 2026, the CFTC’s 45-day review window expired on November 2 without the agency blocking the filing, resulting in automatic approval.
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