The day after the CFTC gave its historic go-ahead for Bitcoin perpetual futures in the U.S., Kalshi filed applications for 12 more: perpetual contracts on altcoins ranging from Ethereum and XRP to Shiba Inu and Hedera. If approved, these would be the first regulated altcoin perps available to American traders on home soil.
What Happened
On June 1, 2026, Kalshi self-certified 12 new derivatives contracts with the CFTC, one day after the regulator approved Bitcoin perpetual futures — a landmark for U.S. crypto markets. Perpetual futures, which have no expiration date, are the single most traded instrument in crypto by volume.
Which Tokens Are Included
The filing covers 12 cryptocurrencies: Ethereum (ETH), XRP, Solana (SOL), Dogecoin (DOGE), Stellar (XLM), Chainlink (LINK), Bitcoin Cash (BCH), Litecoin (LTC), Sui (SUI), Shiba Inu (SHIB), Polkadot (DOT), and Hedera (HBAR). All contracts will use CF Benchmarks for pricing — the same provider powering CME's institutional crypto products.
Why This Matters
Perpetual futures account for an enormous share of global crypto volume. Bitcoin alone carries around $55 billion in open interest, Ethereum $31.5 billion. Nearly all of that trades on offshore venues like Binance, placing U.S. investors in a legal gray area with little regulatory protection.
Kalshi's push aims to change that. CFTC Chair Mike Selig has committed to using "all tools at the agency's disposal to onshore crypto asset perpetuals," giving the initiative clear regulatory momentum.
What Comes Next
The CFTC will review each token separately, having warned that "the perpetual structure may not be suitable for all asset classes" — a hint that illiquid or highly volatile tokens face a tougher path. Coinbase and Kraken are also competing for the U.S. regulated derivatives market, so Kalshi's filing may be just the opening move in a larger market shift.
