Kalshi Files for 24/7 Tesla and Nvidia Perps
The prediction-market operator wants 60 equity perps, but a CFTC-SEC turf war stands in the way.
Kalshi plans to file for U.S. regulatory approval for roughly 60 perpetual futures contracts on stocks and ETFs — including Tesla and Nvidia — offering round-the-clock trading, according to CoinDesk Markets (published 11 September 2026).
Why It Matters
Perpetual futures ("perps") are the dominant trading instrument in crypto, generating hundreds of billions in daily volume on offshore exchanges — but they have never existed in a regulated U.S. equities wrapper. If Kalshi wins approval, retail and institutional traders could hold leveraged exposure to individual stocks 24 hours a day, seven days a week, without touching a traditional brokerage. That directly threatens the after-hours edge currently held by options market-makers and futures exchanges like the CME. The catch: as of September 2026, the CFTC and SEC are actively disputing which agency governs equity-linked prediction and derivatives products, creating genuine approval risk.
Context
Kalshi already holds a CFTC designation as a designated contract market (DCM), which it used to launch event contracts on elections and economic data. Crypto exchanges popularised perps as non-expiring leveraged contracts funded by periodic payments between longs and shorts — a structure Kalshi now wants to port into regulated U.S. markets. The turf war between the CFTC and SEC over who supervises these instruments remains unresolved, per the CoinDesk report.
What's Next
Kalshi must formally submit its contract filings to the CFTC and navigate the inter-agency jurisdictional dispute before any product goes live. A ruling on regulatory ownership — CFTC versus SEC — will set the template for every future equity perp in the U.S. market.
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