COINBASE, KALSHI LAUNCH PERPETUAL CRYPTO FUTURES

The offerings represent a significant expansion of crypto derivatives access for American investors. Perpetual futures—contracts with no expiration date—allow traders to maintain long or short positions indefinitely, distinguishing them from traditional time-limited futures. Coinbase and Kalshi's launch addresses a regulatory gap. Previously, US-based investors seeking perpetual crypto futures had limited domestic options and often turned to offshore exchanges with minimal oversight. The move comes as regulators have gradually clarified frameworks for crypto derivatives on registered platforms. Both exchanges operate under established regulatory structures, with Coinbase licensed as a Money Services Business and Kalshi regulated by the CFTC as a designated contract market. Separately, Coinbase partnered with fintech firm Better to fund the first Fannie Mae-backed mortgage accepting bitcoin as collateral, with nationwide expansion planned in the coming months. The developments underscore growing institutional acceptance of cryptocurrency in traditional financial products.