One week after launch, trading exceeded $1 billion! Kalshi's crypto perpetual contracts succeed, becoming the fastest-growing product in history

The prediction market platform Kalshi launched compliant crypto perpetual contracts just one week ago, and trading volume has already surpassed $1 billion, with $100 million traded on the first day alone, making it the fastest-growing product in the platform's history.

The prediction market platform Kalshi's perpetual contracts (perpetual futures, abbreviated as perps) surpassed $1 billion in trading volume within one week of launch, according to an exclusive report by CNBC. Kalshi officially opened trading of crypto perpetual contracts last Wednesday, with over $100 million traded in the first 24 hours (including leverage).

Perps are futures contracts without an expiration date, allowing traders to speculate on prices without holding the underlying asset. The funding payments mechanism keeps the perpetual contract prices aligned with market prices.

$100 million on the first day, the fastest-growing product in history

A Kalshi spokesperson told CNBC that perpetual contracts are the company's fastest-growing product ever, with the platform's waitlist once exceeding 1 million people.

In comparison, Kalshi's event contracts took 40 months to reach $1 billion in trading volume. The launch of perpetual futures is the company's biggest product release since the initial launch of its prediction markets.

Data from Bank of America shows that the global asset class of perpetual contracts has an annual trading volume exceeding $90 trillion, but before Kalshi's launch, there was no compliant platform within the U.S. to trade such contracts. Kalshi CEO Tarek Mansour is scheduled to discuss this announcement on CNBC's "Fast Money" at 5 p.m. Eastern Time on June 9.

Kalshi and Coinbase both approved by CFTC

Kalshi received approval from the U.S. Commodity Futures Trading Commission (CFTC) on May 29, 2026, becoming the first company in the U.S. to offer compliant perpetual contracts. On the same day, Coinbase was also approved to provide global perpetual contracts to U.S. traders through its affiliated entities. Previously, Kalshi mainly offered event contracts (such as election results and sports predictions), differentiating itself from traditional crypto exchanges. The launch of perpetual contracts may connect user bases across both markets.

There is a business relationship between CNBC and Kalshi, including customer acquisition collaborations and minority equity investments.

• Related report: First compliant Bitcoin perpetual contract in the U.S.! Kalshi launches BTCPERP

• This article is reprinted with permission from: 《Chain News》

• Original title: 《Kalshi Perpetual Contracts Surpass $1 Billion in Trading Volume One Week After Launch, Fastest-Growing Product in History》

• Original author: Elponcrab