Plus500 goes live with Kalshi perpetual futures as first external FCM

Plus500 began offering Kalshi's perpetual futures through its US brokerage on Wednesday, becoming the first futures commission merchant outside Kalshi Prime to carry the contracts since the CFTC approved the first one in May.

Perpetual futures carry no expiry date, allowing traders to hold positions without rolling into a new contract. Plus500 executes, routes, and clears the trades on its own systems as a clearing member of Kalshi Klear. The firm is offering the contracts to institutional clients and to partner brokers that run customer trading on its infrastructure.

Kalshi reported the contracts drew more than $5.5 billion in volume across their first two weeks on a regulated US exchange, reaching approximately $16.1 billion in total volume before the exchange added commodities and index contracts to the suite.

Webull has announced it will carry Kalshi-listed crypto perps through Webull Futures accounts from November, also cleared through Kalshi Klear, but has not gone live. Plus500 is also acquiring US broker Hedge Capital Markets, subject to FINRA approval, and has targeted a US super-app launch for the first quarter of 2027.