Webull, the Nasdaq-listed online brokerage, announced on Tuesday that eligible U.S. customers will be able to trade perpetual futures on its platform starting in November, with bitcoin and other crypto assets in the first set of contracts.
The contracts will trade on KalshiEX LLC, the exchange run by prediction market operator Kalshi, and settle through its clearinghouse, Kalshi Klear LLC. The Commodity Futures Trading Commission regulates the first as a designated contract market and the second as a derivatives clearing organization. Webull said it expects to widen access before year-end. The announcement did not name a launch day or list which crypto assets will join bitcoin.
Only customers already approved for futures trading will get access at first, and they will use their current Webull Futures accounts. Webull said it plans to add more products later, pending regulatory review and exchange listing requirements.
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No Expiry Date
Perps differ from standard futures because they never expire, so a trader does not have to roll a position into a new contract. Instead, periodic funding payments keep the contract’s price close to the price of the asset it tracks. Webull warned that positions face automatic liquidation if margin drops below the maintenance level.
Anthony Denier, Webull’s group president and U.S. CEO, said in the company’s release, “Perpetual futures have become a significant part of global derivatives markets, with annual volume reaching more than $90 trillion in 2025.” He added that American investors “should have access to perpetual futures through a regulated platform they already know and trust.”
Tanmay Sheth, Webull’s managing director of the FCM, futures and prediction markets, said in the same release that “bringing more activity into a regulated, onshore framework is an important step forward.” He said the company wants to give users “clear visibility into margin requirements, funding rates, leverage and liquidation levels.”
In May, the CFTC approved Kalshi’s bitcoin perpetual, the first on a regulated U.S. exchange, and its staff let Coinbase route U.S. clients to perps listed on its offshore affiliate Deribit.
Related Listen: Why CME Sued the CFTC Over the Kalshi Bitcoin Perp Approval
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