Plus500 Launches Kalshi Perpetual Futures in US

Plus500 (LSE: PLUS) has launched Kalshi perpetual futures through its US futures broker arm, and says it is the first such broker, excluding Kalshi Prime, to offer them. The FTSE 250 trading group announced the launch today.

Shares were quoted at 3,361.3p at 08:07 London time, up 0.28% on yesterday’s 3,352p close. The day range so far is 3,342p to 3,414p.

Perpetual futures, or perps, are derivative contracts with no expiry date, so a position can be held indefinitely without rolling it over. They historically traded outside US regulatory oversight until Kalshi launched the first perps contract regulated by the US Commodity Futures Trading Commission in May 2026. Kalshi has since added cryptocurrencies, commodities and indices.

Plus500 says it executes, routes, clears and manages risk on its own technology stack. It clears perps directly as a clearing member, a firm that settles trades straight with the clearinghouse, of Kalshi Klear, which the company calls “the world’s only tech-first derivatives clearinghouse”. It already offers Kalshi prediction markets, and perps are available to business clients and to their customers.

Chief executive David Zruia called it “another significant milestone in a year of excellent progress in the US for Plus500”. Kalshi chief executive Tarek Mansour said Plus500 “was the natural choice to support our expansion into perpetual futures”.

The shares are about 7.4% lower this year against a 3,630p close on 31 December 2025, and roughly 34% below the 5,070p closing high of 6 July. The lowest close was 3,206p on 7 October.

The company says it will add perps as more contracts become available and is positioned to capture early market share in a fast-growing category. With no volumes or guidance given, the test is whether US growth shows up in the numbers.