Kalshi Launches US Stocks, Hits $300 Million

Kalshi spear regulated perpetual futures (SSP) contracts on more than 50 US stocks and ETFs, presenting itself as the first company in the country to offer this product.

What’s the scoop?

• The product: Traders can buy or sell individual stocks without owning shares, expiration or rollover fees. Kalshi listed more than 50 names from the NYSE and Nasdaq and said the contracts were under joint supervision by the CFTC and SEC as futures securities. The launch comes two days after CFTC Chairman Mike Selig allowed single-stock individuals on registered exchanges.

• The volume: Co-founder Lopes Lara called SSPs one of Kalshi’s most important products and attributed the figure of $300 million to the business since the quiet rollout that morning – Kalshi’s own claim, not a verified disclosure.

• More heat against Kalshi: A federal judge granted a preliminary injunction barring Kalshi sports contracts on the lands of the California tribes suing them (Blue Lake, Chicken Ranch and Buena Vista), after a Ninth Circuit panel found the tribes were likely to succeed under the tribal gaming law. Sports attorney Daniel Wallach called it the first tribal PI against Kalshi nationally. The same week, Arkansas AG Tim Griffin continued Kalshi as an illegal gaming platform.