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Prediction markets platform Polymarket is expanding into trading of perpetual futures contacts, the company said Tuesday.
The announcement comes on the heels of a report from The Information that its main rival Kalshi has plans to offer crypto trading, including perpetuals. These are futures contracts that stay open indefinitely, allowing traders to hold leveraged exposure and exit anytime they want as long as they have enough funds to maintain it.
Polymarket has not specified whether its offering will include crypto perpetual futures, but the company is highly crypto friendly. It’s built on the Ethereum and Polygon blockchains and denominates trades primarily in the stablecoin USDC. Crypto traders were major drivers of Polymarket’s meteoric rise in 2024.
The move puts Kalshi — and perhaps Polymarket, if its offering includes crypto perpetuals — in more direct competition with Robinhood
