Plus500 Becomes First External FCM to Launch Kalshi Regulated Perpetual Futures

Plus500 has become the first third-party Futures Commission Merchant to offer perpetual futures on the Kalshi Exchange, a move that brings regulated "perps" to the US market. This integration allows traders to access derivative contracts without expiration dates via Plus500’s proprietary technology, marking a significant expansion of regulated crypto and commodity trading infrastructure.

What was announced

Plus500 is launching Kalshi perpetual futures through its US Futures Commission Merchant (FCM), becoming the first firm outside of Kalshi Prime to provide access to these instruments on the Kalshi Exchange. Perpetual futures, or "perps," are derivative contracts that lack an expiration date, allowing traders to maintain positions indefinitely without the administrative burden of rolling over contracts. While perps have historically operated outside of US regulatory oversight, Kalshi introduced the first CFTC-regulated perps contract in the US in May 2026. Since that launch, the exchange has expanded the asset classes available to include cryptocurrencies, commodities, and indices.

Plus500 utilizes its proprietary technology stack to execute, route, clear, and manage risk for these products. By acting as a clearing member of Kalshi Klear—a tech-first derivatives clearinghouse—Plus500 provides a direct path for its customers to access these markets. The contracts are now available through Plus500’s B2B and B2B2C channels, supported by institutional-grade infrastructure. This launch follows the group’s previous integration of Kalshi’s prediction markets. The company has stated it will seek to expand its perps offering as additional contracts become available on the exchange, aiming to strengthen its partner network and provide a more comprehensive offering for prospective partners.

"Becoming the first US FCM to offer Kalshi perps represents another significant milestone in a year of excellent progress in the US for Plus500 and it highlights the strength of our innovative, technology-led partnership with Kalshi. Perps have grown quickly in recent years and their arrival on a fully regulated US exchange is a significant boost for the whole industry. From prediction markets to perps, our US business is capable of rolling out innovative products at speed, whichis why Plus500 is a partner of choice for Kalshi."

David Zruia, Chief Executive Officer of Plus500

The companies involved

Plus500 is a global multi-asset fintech group that operates proprietary technology-based trading platforms. The company has established a significant presence in the derivatives market, focusing on providing retail and institutional clients with access to a wide range of financial instruments. Plus500’s strategy in the US market centers on its role as a Futures Commission Merchant, leveraging its own technology stack to manage the full trading lifecycle, including execution and clearing services.

Kalshi is a CFTC-regulated US exchange that has pioneered the development of prediction markets and regulated perpetual futures. Led by CEO and Co-founder Tarek Mansour, Kalshi has focused on creating new asset classes through technological innovation. The exchange operates its own clearinghouse, Kalshi Klear, which is designed as a tech-first infrastructure for derivatives. The partnership between Plus500 and Kalshi reflects a broader trend of fintech firms collaborating to bring sophisticated, previously offshore financial products into the regulated US ecosystem. Both companies have focused on high-speed product rollouts and institutional-grade execution to capture market share in the evolving derivatives landscape.

What FF News has reported before

FF News has closely tracked Plus500’s expansion strategy throughout 2026. Recently, the publication covered how Plus500 Outperforms Market Expectations with Strong Q3 2026 Growth and Strategic US Expansion, highlighting the firm's momentum in the North American market. The group has also been active in international M&A, as seen when Plus500 Enters Brazil with Strategic Acquisition of Broker-Dealer Guru. Meanwhile, Kalshi’s influence on the US regulatory landscape was noted in the report on how the NBA Teams Up With Kalshi, Polymarket, and CFTC for Prediction Markets Framework. These developments underscore a period of rapid diversification for both entities as they navigate new regulatory permissions and asset classes.

What this means

The introduction of regulated perpetual futures by a major FCM like Plus500 marks a turning point for the US derivatives market. For years, "perps" were the domain of offshore, unregulated crypto exchanges, leaving a vacuum in the domestic regulated space. By bringing these products under the CFTC umbrella, Plus500 and Kalshi are directly challenging the dominance of offshore platforms. This move puts pressure on traditional US brokerages that have been slow to adopt crypto-adjacent derivatives. It also raises questions about how quickly other FCMs will follow suit to prevent Plus500 from monopolizing early market share in this high-growth category.