Kalshi, a prediction markets platform, is planning to launch crypto perpetual futures in the United States, expanding beyond its traditional prediction market offerings.

The initial product will be perpetual futures tied to crypto assets like Bitcoin, enabling traders to bet on price movements without owning the asset or facing fixed expiration dates.

The broader trend shows growing overlap between prediction markets and crypto trading platforms, with multiple exchanges introducing prediction market products and competing for the same user base.

In March, Kalshi reportedly raised over $1 billion at a $22 billion valuation, according to Wall Street Journal and Bloomberg reports.

Launch events were planned but postponed; initial reports suggested an imminent launch, with Bloomberg later confirming plans.

The article, published by The Information, cites anonymous sources and flags regulatory and market risks surrounding the move.

Industry context indicates rising volumes in prediction markets, with Bernstein estimating growth from about $51 billion in 2025 toward roughly $1 trillion by 2030.

CFTC Chair Michael Selig has signaled that U.S. access to these products could come soon to bring trading volume onshore.

The news impacted Coinbase shares, which fell after a New York Attorney General sued the exchange over its prediction markets product; Coinbase was already trading well below its previous highs with earnings looming.

This move shifts from binary event contracts to continuous financial markets, potentially appealing to both retail and institutional traders.

The expected launch date is set for April 21, 2026, with Kalshi leveraging its designated contract market status to offer regulated onshore products.

Kalshi’s crypto event contract trading volume surged, with March volumes surpassing $1 billion per Dune Analytics data compiled by users.