Key facts
- Kalshi launched perpetual futures contracts for Ethereum, XRP, and Solana.
- Alliance co-founder Imran Khan expressed concern that these products could harm on-chain liquidity.
- Khan stated that off-chain trading activity reduces the composability and network effects within the crypto ecosystem.
- He warned that successful on-chain products might be replicated on off-chain platforms.
- Kalshi received approval from the CFTC for its perpetual trading products.
Alliance co-founder Imran Khan has voiced concerns that Kalshi's recently launched perpetual futures contracts for Ethereum, XRP, and Solana could negatively impact on-chain liquidity. Khan argued that these regulated, off-chain products may draw trading volume and user activity away from decentralized exchanges and protocols.