Kalshi seeks CFTC approval for US500, copper perps

Kalshi filed two product submissions with the Commodity Futures Trading Commission on Aug. 18, seeking permission to launch perpetual futures tied to a broad U.S. stock index and copper. Summary Kalshi submitted two perpetual futures contracts for voluntary CFTC review and approval on August 18. US500 would track MerQube’s index of 500 companies listed and domiciled across the United States. COPPERPERP would reference Pyth’s XCU/USD feed and represent one thousand pounds for each full contract. Neither product is approved, and Kalshi says listing would occur only after Commission authorization arrives. CME’s pending lawsuit argues perpetual contracts are swaps rather than futures under federal derivatives law. The exchange submitted both products through the voluntary approval process under CFTC Regulation 40.3. Kalshi said it plans to list the contracts shortly after approval, meaning neither product can begin trading based on the filings alone. The applications extend Kalshi’s perpetual futures expansion beyond digital assets. They also arrive while CME Group challenges the CFTC’s authority to classify no expiry contracts as futures rather than swaps. Kalshi’s US500 contract woul...