Webull is preparing to roll out perpetual futures contracts, a derivative contract new to regulated U.S. markets that never expires, on its online investment platform next month.
The company is partnering with the prediction market Kalshi to let eligible U.S. customers bet on the price movement of certain assets, starting with bitcoin and other crypto assets in November. More products are expected to follow.
Perpetual futures, or perps, trade around the clock, meaning traders can react to market events outside of the standard trading hours offered by traditional exchange operators. They also allow traders to use leverage, magnifying both potential profits and potential losses.
In May, the Commodity Futures Trading Commission approved the listing of a bitcoin perpetual futures contract at Kalshi. The approval is being challenged in court by CME Group, operator of the world's largest derivatives exchange, which claims the CFTC has created an unfair loophole to let platforms like Kalshi bypass the strict trading rules that established exchanges play by.
While that legal challenge plays out, Webull is getting in on the action by offering perps that will be listed on Kalshi and cleared by a Kalshi subsidiary.
"As this market continues to grow, we believe U.S. investors should have access to perpetual futures through a regulated platform they already know and trust, bringing a product with significant global adoption into the U.S. regulated futures market," said Anthony Denier, the chief executive of Webull U.S.
Customers who are approved for futures trading will be able to access perps through their Webull Futures accounts.
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