Key facts
- Kalshi is expanding perpetual futures offerings beyond crypto.
- Kalshi's perpetual futures generated over $5.5 billion in volume in two weeks.
- Traditional finance firms are adopting 24/7 trading.
- SpaceX's implied valuation hit $3 trillion on blockchain markets.
- SpaceX's valuation surge was due to a short squeeze in perpetual futures.
- A student lost a prediction market bet on Polymarket.
- The student's loss was due to overlooked fine print.
Kalshi is expanding its perpetual futures offerings to include assets beyond cryptocurrency, following substantial trading volume on its platform. In the initial two weeks of operation, Kalshi's never-expiring derivatives generated over $5.5 billion in trading volume. This expansion occurs as traditional finance firms are increasingly adopting round-the-clock trading for various assets, a practice that has been a hallmark of the cryptocurrency market for years. This trend is causing significant adjustments and disruptions within the crypto industry.
In a separate development highlighting the volatility of blockchain-based markets, SpaceX's implied valuation surged to $3 trillion. This valuation was achieved on these markets due to a short squeeze in perpetual futures related to the private company. The event underscores the speculative nature and potential for rapid fluctuations in private company valuations when traded on such platforms.