Kalshi Takes SOL Perpetual Futures Live on Its CFTC-Regulated American Perpetuals Platform

Kalshi added SOL perpetual futures to its American Perpetuals platform on June 10, making Solana the fourth cryptocurrency available for perpetual futures trading on the first CFTC-regulated domestic perps venue in US history.

The contract joins Bitcoin, Ethereum, and XRP on the platform. Kalshi is temporarily waiving trading fees to encourage adoption of the new contract, which uses CF Benchmarks indices as the reference price for funding and settlement, with funding rates adjusting every eight hours.

From Bitcoin Approval to SOL in Under Two Weeks

Kalshi launched Bitcoin perpetuals on May 29 after the CFTC issued an order authorizing the contracts, the first time the agency had approved true perpetual futures on a US-regulated exchange. CFTC Chairman Mike Selig said the move represented "a major step forward in delivering on President Trump's goal" of onshoring crypto derivatives activity.

Ethereum perpetuals went live on June 5. XRP followed before SOL's June 10 listing. The pace from BTC to SOL in under two weeks reflects the self-certification pathway Kalshi used for the altcoin filings. On June 1, the day after BTC cleared, the exchange filed with the CFTC to self-certify perpetual futures on 12 altcoins, including Solana, Dogecoin, Ethereum, and XRP. The CFTC indicated it would assess each contract individually, noting that "the perpetual contract design may not be suitable for all asset classes."

CEO Tarek Mansour described the broader launch as marking "Kalshi's evolution from prediction market leader to next-gen derivatives exchange," framing the regulated perps as tools that "improve capital allocation and risk management for countless American businesses."

SOL Contract Specs: 1,000 SOL Size, Funding Every Eight Hours

The SOL contract uses a 1,000 SOL contract size with a 0.10 SOL minimum order. Like all perpetual futures, it carries no settlement date, so positions can be held indefinitely with periodic funding-rate payments between longs and shorts to keep the contract price aligned with spot.

The offshore perpetuals market grew from $28 trillion in annual volume in 2023 to over $90 trillion in 2025, making it one of the largest derivatives categories that US institutions and retail traders had been unable to access through a domestically regulated venue. SOL's open interest across offshore platforms was approximately $5.5 billion at the time Kalshi filed its altcoin applications in early June.

Dogecoin and Shiba Inu Perpetuals Still Awaiting CFTC Review

Dogecoin, Shiba Inu, Stellar, and Hedera remain under CFTC review. Kalshi has said these contracts are "expected to be introduced in the coming days as approvals continue to progress." The exchange has also filed for Hyperliquid perpetual futures, though no timeline has been provided for that contract.

If Dogecoin and Shiba Inu receive approval, they would become the first meme-coin derivatives available on a US-regulated exchange, a category that has existed only on offshore venues to this point.