On Oct. 20, Webull announced a planned November rollout of perpetual futures for U.S. customers in collaboration with prediction market operator Kalshi. The offering will begin with cryptocurrency perpetuals and is intended to expand to a broader set of instruments by the end of the year, subject to regulatory review and exchange listing requirements.
Perpetual futures - commonly referred to as perps - differ from conventional futures contracts because they do not carry a fixed expiration date. That characteristic allows market participants to hold positions indefinitely without needing to roll contracts forward.
Webull said demand for cryptocurrency derivatives in the United States has risen following this year’s approval by the Commodity Futures Trading Commission of the first perpetual futures contracts for Coinbase and Kalshi. The company plans to list its perpetual futures on KalshiEX LLC, an exchange regulated by the CFTC, and to clear positions through Kalshi Klear LLC, a CFTC-regulated clearinghouse.
The initial product slate will include Bitcoin along with other crypto assets, with a staged expansion to a wider range of contracts by year-end. Webull also indicated it intends to add offerings beyond cryptocurrency, though any additional products will depend on regulatory approval and the completion of applicable exchange listings.
Anthony Denier, chief executive officer of Webull US, highlighted the growing scale of perpetual futures globally, saying, "Perpetual futures have become a significant part of global derivatives markets, with annual volume reaching more than $90 trillion in 2025."
Once launched, the perpetual futures will be accessible through customers' existing Webull Futures accounts, providing continuity for users who already trade futures through the platform.
Operational and market context
The listing and clearing arrangement places the new contracts within the framework of CFTC oversight. Using a CFTC-regulated exchange and clearinghouse addresses regulatory compliance requirements tied to U.S. derivatives trading, while the reference to expanded product categories signals that Webull aims to broaden its derivatives suite over time, conditional on regulatory and listing approvals.
What remains subject to approval
- Expansion beyond initial cryptocurrency contracts is contingent on regulatory review and exchange listing processes.
- Any non-crypto products mentioned by the company will require exchange listings and applicable regulatory clearance before being offered to customers.