Kalshi has launched perpetual futures contracts tied to BNB, Cardano (ADA),Aave (AAVE),Worldcoin (WLD) and Venice Token (VVV),expanding regulated crypto derivatives access for eligible U.S. traders. The products form part of the platform’s American Perpetuals series and went live after materials were submitted through the Commodity Futures Trading Commission’s public filing system last week.

The contracts are margined and settled in U.S. dollars, carry no fixed expiration date and allow both long and short positions. Maximum leverage varies by asset, reaching approximately 4.5 times for BNB and 1.9 times for Venice Token. Traders gain price exposure without holding the underlying tokens; profits and losses track movements in each reference price.

Expanded Product Range

With the latest additions, Kalshi now lists Bitcoin perpetual futures alongside contracts covering 17 altcoins. Existing offerings include Ethereum, XRP, Solana, Hyperliquid and Zcash. Earlier this year the platform introduced contracts for Zcash, Near Protocol, Dogecoin and Shiba Inu. Filings for Stellar, Polkadot and Hedera contracts remain pending and no launch dates have been confirmed.

BNB serves as the native asset of BNB Chain, while ADA underpins the Cardano network and AAVE functions as the governance token of the Aave lending protocol. Worldcoin and Venice Token provide exposure to projects associated with artificial intelligence. The presence of a perpetual contract does not determine the value, security or regulatory status of the underlying asset.

Regulatory Backdrop and Legal Dispute

Kalshi operates as a CFTC-regulated designated contract market. Registered exchanges may introduce certain products through certification or review procedures, and a filing’s appearance in the CFTC database does not always equate to a full commission vote on each individual contract.

The expansion occurs against the backdrop of a continuing legal challenge. CME Group has sued the CFTC and its chairman, arguing that crypto perpetual contracts should be classified as swaps rather than futures and therefore subject to a different regulatory framework. The regulator filed a motion on September 2 seeking dismissal of the lawsuit, contending that CME lacks standing because it can offer comparable products on its own exchange.

The agency maintained that CME has not shown concrete financial injury caused by Kalshi’s contracts. CME continues to assert that the CFTC’s approach bypassed requirements established for swaps. The court has not yet ruled on standing or on the proper classification of the products. Kalshi may continue offering the newly listed contracts while complying with applicable CFTC rules and its exchange obligations.

Market Response

Crypto prices moved higher in tandem with broader market gains. BNB rose more than 5 percent to $729 before trading near $723, accompanied by an 83 percent increase in 24-hour trading volume. Cardano advanced nearly 10 percent to approximately $0.222 as market participants reacted to RealFi’s planned October 1 mainnet launch. AAVE, WLD and VVV also posted gains as sentiment improved across digital assets.

Further product additions remain possible. Traders will need to monitor leverage levels, margin requirements, reference prices and any recurring funding or adjustment costs that keep contract prices aligned with spot markets. Leverage amplifies both potential returns and liquidation risk.