Plus500 Becomes First US FCM to Offer Kalshi Perpetual Futures

Plus500 Ltd has begun offering Kalshi perpetual futures through its US futures commission merchant (FCM), making it the first such firm outside Kalshi Prime to give clients access to perps on a CFTC-regulated US exchange, according to FX News Group. The London-listed broker said the contracts are now live across its business-to-business and B2B2C channels.

Contents

01

What Perpetual Futures Are and Why the Venue Matters

02

Clearing Through Kalshi Klear

03

A Wider US Build-Out

04

What Singapore Traders Should Note

What Perpetual Futures Are and Why the Venue Matters

Perpetual futures, or perps, are derivative contracts with no expiry date. Unlike standard futures, which settle on a fixed date and must be rolled into a new contract to keep a position open, a perp lets a trader hold a position indefinitely. That structure has made perps a staple of offshore crypto trading, where they have historically sat outside US regulatory oversight.

That changed in May 2026, when Kalshi launched what Plus500 describes as the first CFTC-regulated perps contract in the US. The Commodity Futures Trading Commission is the US federal regulator for derivatives. Since that launch, Kalshi has widened its perps range to cover cryptocurrencies, commodities and indices.

For forex and contracts-for-difference (CFD) traders, the significance lies in where the product sits rather than in any single contract. A perp traded on a CFTC-regulated exchange and cleared through a US FCM sits inside a supervised framework, in contrast to the offshore venues where such products have mostly been available. Plus500's announcement does not set out margin terms, contract sizes or which specific contracts Singapore-based clients can access.

Clearing Through Kalshi Klear

Plus500 said it executes, routes, clears and manages risk on its own proprietary technology stack, and clears the perps directly as a clearing member of Kalshi Klear, which it describes as the world's only technology-first derivatives clearinghouse. Clearing is the back-office step that guarantees a trade is settled if one side defaults, and membership of a clearinghouse lets a firm handle that process itself rather than through a third party.

The group had already integrated Kalshi's prediction markets products before adding perps. It said the launch enhances its US exchange-traded operations, which include execution, order routing, application programming interface (API) connectivity and clearing services.

Plus500 chief executive David Zruia framed the step as part of a broader US expansion. "Becoming the first US FCM to offer Kalshi perps represents another significant milestone in a year of excellent progress in the US for Plus500," he said, adding that perps have grown quickly in recent years and that their arrival on a fully regulated US exchange is a significant boost for the industry.

Kalshi chief executive Tarek Mansour said the partnership followed the earlier prediction markets collaboration. "Plus500 was the natural choice to support our expansion into perpetual futures," he said, citing the broker's execution and clearing capabilities.

A Wider US Build-Out

Plus500 said the launch advances each of its stated strategic priorities: broadening its product range, deepening its US footprint and strengthening engagement across its partner network. It added that it will seek to expand the perps offering as additional contracts become available, and that it sees itself as positioned to capture early market share in what it calls a fast-growing product category.

Those are the company's own assessments and forward-looking statements, which Plus500 notes are subject to known and unknown risks and uncertainties that could cause actual results to differ. The announcement also carries a standard caution that each forward-looking statement speaks only as of its date.

Plus500 describes itself as a global multi-asset fintech group running proprietary trading platforms. Its products include over-the-counter (OTC) contracts for difference, share dealing, and futures and options on futures. Through its OTC portfolio it offers more than 2,500 underlying instruments spanning equities, indices, commodities, options, exchange-traded funds, foreign exchange and cryptocurrencies, and its OTC customers trade in more than 60 countries and 30 languages.

What Singapore Traders Should Note

Plus500 holds operating licences and is regulated in a list of jurisdictions that includes Singapore alongside the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa, the Seychelles, the United States, Estonia, Japan, the UAE, the Bahamas, Canada, Colombia and India. The company was admitted to the London Stock Exchange in July 2013 under the ticker PLUS and is a constituent of the FTSE 250 and STOXX Europe 600 indices.

The announcement concerns the US FCM and its B2B and B2B2C channels, and does not state that the Kalshi perps are being offered to Plus500's Singapore retail clients. Readers in the region should check which entity holds their account and which products that entity is licensed to distribute before assuming access.

On risk controls, Plus500 said its OTC customers cannot be subject to negative balances, that a free demo account is available without limit for OTC platform users, and that it provides risk management tools free of charge to manage leveraged exposure, including stop losses. Those statements refer to its OTC products rather than to the newly launched exchange-traded perps.

Finally, WikiFX would like to remind everyone that before using any US stock, futures, or forex brokers, remember to check the platform's regulatory information, trading environment, field inspection reports, user reviews, and overall rating on the WikiFX App. This will help you effectively avoid problematic scam platforms and rogue brokers, safeguarding your capital.