Plus500 adds Kalshi perpetual futures to its US brokerage and clearing channels

Plus500 said on 28 October that its US futures commission merchant had begun offering Kalshi perpetual futures through its business-to-business and business-to-business-to-consumer channels. The announcement concerns distribution through institutional partners and their customers; it does not establish availability in every Plus500 retail CFD account.[1]

The group says it executes, routes, clears and manages the contracts using its own technology, with direct clearing membership of Kalshi Klear. It already supported Kalshi prediction-market products. Its claim to be the first FCM offering the perpetuals expressly excludes Kalshi Prime.[1]

The FCM role helps explain the commercial significance. In the CFTC’s definition, an FCM accepts futures orders and customer money or extends credit in connection with those orders. Brokerage access therefore involves an account and collateral relationship as well as a trading screen. An exchange integration has to connect order handling with the obligations arising after execution.[2]

Contract life and ongoing holding costs

Perpetual futures ordinarily remove the expiry-driven need to roll a position into a replacement contract. Kalshi’s current guide identifies an exception within its wider product range: WTI oil positions expire after ten years. Individual specifications therefore matter alongside the product label.[4]

Recurring funding transfers support the relationship between a perpetual’s price and the underlying market. When funding is positive, holders of long positions pay holders of short positions; when negative, the direction reverses. Kalshi describes these payments as transfers between traders rather than a fee retained by the exchange.[3]

The distinction matters for the holding period. A position can show a favourable price move while accumulating funding payments in the opposite direction. Funding can also be received. Its direction and size therefore form a separate component of the position’s economics, alongside trading profit or loss and any brokerage charges.[3]

The settlement timetable depends on the contract category. Kalshi’s current product guide gives three daily funding settlements for crypto, at midnight, 8am and 4pm Eastern Time, while precious-metals funding settles at 10am Eastern Time once daily. A single generic funding timetable would therefore misdescribe the broader product range.[4]

Margin remains collateral supporting the position. Kalshi’s explanation distinguishes the initial amount required to open a trade from the maintenance threshold during its life, and warns that requirements can change with volatility. Insufficient collateral can lead to forced closure, whose execution price is not guaranteed. These are contract mechanics; the announcement does not publish the account-level margin or fee schedule applicable to each Plus500 partner route.[4]

A further distribution channel for the US business

The launch follows a measurable shift in Plus500’s business mix. Its 26 October trading update said non-OTC activities supplied about 16% of group revenue and 31% of new customers during the first nine months of 2026. That category includes futures, prediction markets and share dealing, so those percentages cannot be attributed to perpetual futures, which were launched subsequently.[5]

Plus500 says it intends to add further perpetual contracts as they become available. The release does not provide a complete enabled-contract list or partner-by-partner rollout schedule. The confirmed change is the live US FCM integration and its stated partner distribution channels.[1]

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