Kalshi Launches Leveraged US 500 Perpetual Contract Without Expiration

Kalshi launched a leveraged perpetual contract tied to 500 large U.S. companies, expanding its trading products beyond prediction markets and giving U.S. participants long or short exposure through one contract.

The US 500 Perpetual went live Oct. 6. Its underlying index is weighted by market capitalization, so the largest companies have the greatest effect on its value.

The contract has no scheduled expiration date. Traders can maintain positions without moving into a new dated contract, while funding payments between long and short holders help keep the contract price aligned with the underlying reference price.

Kalshi’s current product information lists maximum leverage of 13.7x for the US 500, though that level can change. The contract is subject to margin requirements, and leveraged positions can be closed when account collateral falls below required levels.

The launch follows Kalshi’s broader expansion into perpetual contracts tied to crypto assets and metals, adding a stock-index product to its continuously traded derivatives offering.