Kalshi Sets Up Loans Backed by Bitcoin and Ether for Futures Margin

Kalshi has arranged loans backed by Bitcoin and Ether held at BitGo for eligible Kalshi Prime clients, giving them a way to meet margin requirements for the exchange’s U.S. perpetual futures without selling those assets.

Kalshi Prime, the company’s CFTC-registered futures commission merchant, is the customer channel. Eligible clients may pledge Bitcoin (BTC), Ether (ETH) or stablecoins that meet the GENIUS Act’s requirements. Loan proceeds can fund margin for leveraged perpetual futures positions on Kalshi.

Kalshi Katalyst, an affiliated lender, provides the loans, while BitGo Bank & Trust holds the collateral. The arrangement separates the borrower, lender and collateral manager in a three-party structure.

The setup lets clients keep their digital assets in custody while borrowing funds for trading. It links Kalshi’s futures business with a dedicated custodian for collateral posted against positions.

Kalshi launched Bitcoin perpetual futures in May and added gold and silver markets in September, expanding its U.S. lineup beyond crypto.