Kalshi launches Solana perpetual futures after $1B first-week volume

Kalshi, the regulated US derivatives exchange, introduced Solana perpetual futures on June 11 after its perp products surpassed $1 billion in first-week volume.

"The launch of SOL perpetual futures expands our crypto derivatives offering for American investors through a fully regulated channel," a Kalshi spokesperson said. The exchange plans to add Dogecoin and Shiba Inu perpetual futures in the coming weeks, according to the announcement.

The rollout follows the Commodity Futures Trading Commission's May 2026 approval of Kalshi's Bitcoin perpetual contract, which the agency described as a step toward bringing crypto derivatives onshore after years of offshore dominance. Kalshi's perp suite recorded more than $1 billion in trading volume within its first week, according to data cited by Kraken. The contracts let traders take long or short positions on Solana without expiration dates, using a funding rate mechanism to keep contract prices aligned with spot markets.

The launch positions Kalshi to compete directly with Kraken and Coinbase in the US regulated derivatives market, where perpetual futures generated more than $60 trillion in global trading volume in 2025, according to Kraken. The planned DOGE and SHIB listings could draw retail traders seeking compliant access to meme-coin derivatives through a CFTC-regulated venue.

The CFTC's approval of Kalshi's Bitcoin perp in May marked a turning point for US crypto derivatives policy. Chair Michael Selig said in January the agency would use its existing authority to support perpetual futures, arguing that years of regulatory uncertainty had pushed trading activity to offshore platforms such as Hyperliquid, which drew professional traders seeking deep liquidity.

Kraken followed with its own CFTC-regulated perp launch on June 15 through Bitnomial, the derivatives platform acquired by parent company Payward in April. Coinbase also received a no-action position from the CFTC in May, allowing its Coinbase Financial Markets unit to provide US institutional clients access to global crypto perpetual and options markets.

Kalshi described the Solana perp launch as its most significant expansion beyond prediction markets since the exchange was founded. The company said it aims to become a broader derivatives exchange offering regulated access to digital asset products that have historically been unavailable to US retail investors through compliant channels.

Solana traded around $66,858 at the time of the announcement, CoinGecko data show.

This article is for informational purposes only and does not constitute investment advice.