KalshiEX Files to List LINK, DOT and XLM Perpetual Futures

KalshiEX submitted three CFTC Regulation 40.2(a) notifications on June 2 to self-certify perpetual futures contracts tied to Chainlink, Polkadot and Stellar Lumens. The filings identify the products as LINKPERP, DOTPERP and XLMPERP and say the contracts would initially be listed after close of business on June 2 on a continuous basis.

Each filing describes the product as a cash-settled perpetual futures contract with no fixed expiration or delivery date. Instead of rolling from one contract month to another, the products use a periodic funding mechanism designed to keep the contract price economically linked to a continuously observed reference price.

The contract terms point to CF Benchmarks real-time indices as the underlying price sources: the CME CF Chainlink-Dollar Real Time Index for LINKPERP, the CME CF Polkadot-Dollar Real Time Index for DOTPERP and the CME CF Stellar Lumens-Dollar Real Time Index for XLMPERP. The filings also include enhanced trading prohibitions and appendices addressing DCM core-principle compliance.

Why it matters

Perpetual futures are a core crypto trading format, but much of that activity has developed outside U.S.-regulated futures venues. KalshiEX’s filings show the format continuing to move into CFTC-registered market structure, with clearer rulebooks, surveillance obligations and clearing expectations.

What to watch next

The key issue is whether liquidity develops beyond bitcoin and major benchmark products. Traders should also watch how brokers present perpetual funding, margin and liquidation risk compared with conventional expiring futures.