Polymarket · Bloomberg · U.S. · Bitcoin Magazine
Kalshi is doubling down on its bid to become the regulated U.S. home for crypto perpetual futures
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Bloomberg first reported Wednesday that customers of Kalshi Prime, the company’s U.S.-registered futures commission merchant, will be able to borrow against digital assets held at BitGo and use the proceeds to fund margin positions on perpetual futures traded on Kalshi’s main exchange.
Key facts
- Webull Group President and U.S. CEO Anthony Denier said in the company’s release that perpetual futures saw more than $90 trillion in global volume in 2025 and that American investors should be able
- The contracts will trade on KalshiEX LLC, Kalshi’s CFTC-regulated designated contract market, and clear through Kalshi Klear LLC, its derivatives clearing organization
- A new tri-party lending structure with BitGo lets Kalshi Prime clients borrow against bitcoin to margin perpetual futures
- Under the tri-party structure, loans will be issued by Kalshi Katalyst, a lending affiliate of Kalshi Prime, and secured against assets held at BitGo Bank & Trust, the firm’s federally chartered
Summary
A new tri-party lending structure with BitGo lets Kalshi Prime clients borrow against bitcoin to margin perpetual futures. Kalshi is doubling down on its bid to become the regulated U.S. home for crypto perpetual futures, pairing a new bitcoin-backed lending arrangement with digital-asset custodian BitGo alongside a distribution deal that will put its perpetual contracts in front of Webull’s more than 6 million customers. Under the tri-party structure, loans will be issued by Kalshi Katalyst, a lending affiliate of Kalshi Prime, and secured against assets held at BitGo Bank & Trust, the firm’s federally chartered trust bank.