🚨 US perpetual contracts are coming for sure—Wall Street is starting to copy crypto’s homework
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First, my take: this isn’t ordinary product news. It’s the first time traditional finance has seriously acknowledged that the derivatives game from crypto really is useful.
Kalshi has already submitted rule changes to the U.S. SEC, and the same filing has also been sent to the CFTC. Timing is set for Friday. What it’s trying to do is list perpetual contracts tied to a single U.S. stock, with no fixed expiration date. By having both long and short sides pay funding fees on schedule, it pulls the price back toward the underlying stock price 📉. More importantly, it defines these contracts as a security futures product and routes them through its own registered clearing organization, Kalshi Klear. In fact, it already has playbooks in hand: perpetual contracts for Bitcoin, Ethereum, SOL, and XRP are already live. The Bitcoin approval came in May this year, and the path was basically paved long ago.
Now, the second layer: it’s not just one firm moving. On the same day, another leading exchange also filed an application for single-stock U.S. perpetual contracts. Yet another established exchange’s parent company, Payward, submitted via Bitnomial, planning to launch the first batch of 10 U.S. stock contracts covering Tesla, Apple, Microsoft, Amazon, and more—and it even wants 24/5 trading. Three parties squeezing into the same lane on the same day—the signal is already very clear.
Of course, some people think regulators won’t approve this at all, especially since the CLARITY Act on September 15 failed to secure even 60 votes in the Senate. To be honest, that argument makes sense. But I’d rather look at another detail: SEC Chair Paul Atkins spoke up the next day—whether legislation passes or not, institutions will act decisively within their existing authority ⚖️. If the bill gets stuck, the product still keeps moving forward.
I personally haven’t fully figured out every move in this game, but the data is right in front of us. Perpetual contracts are evolving from a niche tool in the crypto world into standard equipment in the stock market. What’s really worth watching isn’t who gets approved first—it’s when funding fees and leverage are moved into U.S. equities unchanged, who ultimately ends up paying for the volatility 💰. One camp calls this the evolution of the U.S. stock market; the other says leverage is running out of control. Which side are you on 👀
Click the avatar to watch the livestream + join the Jiujiu chat group to get daily strategies 🚀
#比特币 #BTC #CryptoRegulation
Group: 点击进入玖玖的粉丝群
First, my take: this isn’t ordinary product news. It’s the first time traditional finance has seriously acknowledged that the derivatives game from crypto really is useful.
Kalshi has already submitted rule changes to the U.S. SEC, and the same filing has also been sent to the CFTC. Timing is set for Friday. What it’s trying to do is list perpetual contracts tied to a single U.S. stock, with no fixed expiration date. By having both long and short sides pay funding fees on schedule, it pulls the price back toward the underlying stock price 📉. More importantly, it defines these contracts as a security futures product and routes them through its own registered clearing organization, Kalshi Klear. In fact, it already has playbooks in hand: perpetual contracts for Bitcoin, Ethereum, SOL, and XRP are already live. The Bitcoin approval came in May this year, and the path was basically paved long ago.
Now, the second layer: it’s not just one firm moving. On the same day, another leading exchange also filed an application for single-stock U.S. perpetual contracts. Yet another established exchange’s parent company, Payward, submitted via Bitnomial, planning to launch the first batch of 10 U.S. stock contracts covering Tesla, Apple, Microsoft, Amazon, and more—and it even wants 24/5 trading. Three parties squeezing into the same lane on the same day—the signal is already very clear.
Of course, some people think regulators won’t approve this at all, especially since the CLARITY Act on September 15 failed to secure even 60 votes in the Senate. To be honest, that argument makes sense. But I’d rather look at another detail: SEC Chair Paul Atkins spoke up the next day—whether legislation passes or not, institutions will act decisively within their existing authority ⚖️. If the bill gets stuck, the product still keeps moving forward.
I personally haven’t fully figured out every move in this game, but the data is right in front of us. Perpetual contracts are evolving from a niche tool in the crypto world into standard equipment in the stock market. What’s really worth watching isn’t who gets approved first—it’s when funding fees and leverage are moved into U.S. equities unchanged, who ultimately ends up paying for the volatility 💰. One camp calls this the evolution of the U.S. stock market; the other says leverage is running out of control. Which side are you on 👀
Click the avatar to watch the livestream + join the Jiujiu chat group to get daily strategies 🚀
#比特币 #BTC #CryptoRegulation
