Polymarket launches Perpetual Futures, Kalshi set for crypto Perps
Polymarket says it will launch perpetual futures on its prediction market platform, allowing 24/7 long or short trading around outcomes. The company posted on X for early access, and a teaser video suggested positions could reach up to 10x leverage. However, it has not confirmed launch timing, supported underlying crypto assets, or whether US and/or international users will be able to trade.
The announcement comes as reports say Kalshi is preparing its own crypto perpetual futures product in the coming weeks, highlighting direct competition in the most liquid prediction-market derivative segment. Perpetual futures do not expire and typically support continuous speculation with leverage.
For crypto traders, the key watch items are the build-out of liquidity, tighter spreads, and changes in funding rates as perpetual futures activity ramps up. Until Polymarket and Kalshi confirm key details, expect volatility tied to announcements-to-launch timing and shifting expectations about listed assets and regional availability. Use Perpetual Futures risk controls (position sizing, funding monitoring) until the full product specs are clear.
Neutral
Polymarket’s move to perpetual futures could increase derivatives activity tied to prediction/price narratives, and it is likely to attract more leveraged traders once liquidity and market-making settle. That is potentially supportive for activity. However, both platforms’ progress is still at an early/announcement stage: Polymarket has not confirmed launch timing, supported assets, or regional availability, and the same is expected for Kalshi. Until those specifics are confirmed, price impact on any single underlying asset is uncertain.
In the short term, traders may see volatility driven by expectations around the launch window, product specs, and funding-rate dynamics. In the long term, if liquidity deepens and spreads tighten, the impact could become more constructive via sustained perpetual futures volumes. But given current uncertainty, the net effect on the price of mentioned cryptocurrencies is better assessed as neutral.