The Commodity Futures Trading Commission has approved KalshiEX, LLC‘s application to launch a regulated bitcoin perpetual futures contract. The BTCPERP contract, which tracks bitcoin’s spot price, received clearance under Regulation 40.3 after the CFTC determined it met the standards of the Commodity Exchange Act. However, the agency simultaneously cautioned that perpetual contracts may not be suitable for all asset classes, signaling a careful approach to future similar products.
The Commodity Futures Trading Commission has approved a new bitcoin-linked perpetual futures product from KalshiEX, LLC. This allows the company to list the BTCPERP Contract on its designated contract market platform.
Regulators stated the product met the legal and operational standards required under federal commodities law. The approval order was issued under Section 5c(c)(4) of the Commodity Exchange Act.
Kalshi submitted the contract for approval on May 28, 2026, under Commission Regulation 40.3. The product references the spot price of bitcoin and operates as a perpetual futures contract.
The CFTC confirmed the contract satisfies Core Principles required for designated contract markets. Approval requires Kalshi to ensure ongoing compliance with all governing regulations.
The commission also noted that the perpetual contract structure does not apply to all classes of assets. Firms were advised to liaise with commission officials on the development of such products.
According to the commission’s statement, future perpetual contracts based on other assets should seek voluntary approval. Regulators will conduct an assessment of future listings of perpetual derivatives.
