Kalshi plans crypto-backed lending to fund perpetual-futures margin

Kalshi Prime clients will be able to borrow against digital assets and use the proceeds as margin for futures traded on Kalshi, Bloomberg reported on 21 October, citing a company statement. The arrangement offers a funding route for customers retaining crypto holdings.[1]

Kalshi Katalyst, a lending affiliate, would provide loans secured against assets at BitGo Bank & Trust. Kalshi Prime chief executive Jeff Bandman told Bloomberg that eligible collateral would include Bitcoin, Ether and stablecoins considered compliant with the GENIUS Act.[1]

The financing adds a loan secured on crypto to the obligations arising from the futures position. For a customer holding volatile collateral and a similarly directed futures position, one market move could weaken collateral value while also producing trading losses. That interaction depends on the instruments and positions chosen.

Kalshi’s published retail access guide separately describes the brokerage gate. US-based users with completed identity checks may apply; the process includes questions about experience, financial circumstances and risk, followed by approval and a mandatory tutorial. Most retail users trade through Kalshi Prime, the futures commission merchant, which manages margin and holds customer funds in segregated accounts.[2]

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