Polymarket Offers Traders up to 20x Leverage as Perps Go Live

Polymarket began trading perpetual futures on Thursday with 67 markets live at launch. The rollout covers cryptocurrencies, individual stocks, equity indexes, gold, silver, Brent and West Texas Intermediate crude.

The equities contracts include Tesla, Nvidia, Strategy, Coinbase, the S&P 500, the Nasdaq 100 and SpaceX, according to Polymarket’s own product page.

Perpetuals carry no expiration date. A funding rate periodically moves payments between long and short holders to keep each contract anchored to its reference price, and a position stays open as long as its margin holds.

U.S. regulators have approved perps for digital assets but have been hesitant to apply that structure to commodities such as crude oil over its potential effect on price discovery in physical markets. The CFTC spent the summer seeking comments on 24/7 futures trading and on perpetual contracts tied to physically delivered or storable energy commodities, with the comment window closing August 26. In July it halted CME Group’s self-certified listing of a 24/7 crude oil futures contract pending review.

Polymarket sidestepped the issue by keeping the products offshore. Its international site blocks US traders and directs them to polymarket.us, the CFTC-regulated designated contract market, which does not list the perpetuals. Rival Kalshi is reportedly preparing to file with the CFTC as early as next week for a WTI perpetual that would trade 24 hours a day, five days a week, which would be the first oil-linked perpetual on a regulated US venue if cleared.

Polymarket has filed for US margin trading through an affiliated entity. Kalshi has separately submitted perpetual filings on metals, equity indexes, foreign exchange and rates, and the CFTC has said it will review new asset classes case by case.

Related Listen: CME vs. Kalshi. Is Washington Picking a Winner in Prediction Markets?

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