Coinbase, Kalshi bring regulated perpetual crypto futures to US investors

Cryptocurrency exchange Coinbase and prediction markets platform Kalshi said on Friday they are introducing perpetual crypto futures, marking the first time such instruments will be available to U.S. investors through domestic, regulated exchanges.

Perpetual futures, or “perps”, are derivatives that lack a traditional expiration date, allowing traders to maintain positions indefinitely without the need to roll over contracts. These ‌instruments also permit ⁠high ⁠degrees of leverage – often as much as 50-to-1 – enabling investors to amplify their exposure to market ​moves.