Kalshi introduces US 500 index to expand perpetual futures operations

Kalshi has launched a new stock index – the US 500 – to expand the operator’s perpetual futures capabilities, offering investors the opportunity to take leveraged long or short positions on the index. 

The US 500 serves as an “index of America’s largest companies weighted by market cap,” according to the operator, while perpetual futures are derivatives which lack a traditional expiration date – most commonly seen in sports betting. 

“This launch brings us closer to building a financial exchange for anyone and everyone. Prediction markets gave traders exposure to the events that move the stock market. The US 500 is the natural next step: a way to trade on the market itself,” Kalshi said. 

Kalshi previously filed to begin offering stock index perpetual futures with the Commodity Futures Trading Commission (CFTC) during August. 

The operator went on to confirm that funding rates will be used to ensure the prices of contracts are in line with the US 500, which are a periodic fee exchanged between traders who have taken leveraged long or short positions in perpetual futures contracts. 

Kalshi Co-Founder and CEO Tarek Mansour also spoke on the US 500, having said, "Stock market exposure is the next step ​towards Kalshi becoming ​a full-service ⁠financial exchange, and perps are the best way for our traders to get this ​exposure.”

In addition to the newly launched stock index, Kalshi also plans to file for a perpetual West Texas Intermediate crude oil contract with US regulators, part of the operator’s efforts to expand past cryptocurrency and metal markets. 

On October 1, Kalshi partnered with CBS News to integrate prediction market data into the broadcaster's coverage of the 2026 US Midterm Elections. 

The agreement will provide the network’s audience with Kalshi forecasts for individual races and control of Congress used alongside CBS News reporting, polling and expert analysis.