Why a risk management software is the gatekeeper for Kalshi’s new crypto perps? - Cryptopolitan

Crypto Insight Summary: * CFTC approved Kalshi’s BTCPERP, a no-expiry Bitcoin futures contract. * Haruko now links with Kalshi’s exchange, letting institutions trade and track BTCPERP risk in their existing dashboards. * Executives from Haruko, Galaxy, and Kalshi say this removes a key barrier for institutional crypto trading in the US. **Something big just happened in US crypto trading. The Commodity Futures Trading Commission has cleared the way for a brand new kind of crypto product to be sold inside the country, and one trading platform has already jumped in to offer it.** According to a [cryptopolitan report](https://www.cryptopolitan.com/kalshi-first-bitcoin-perpetual-contract-us/), Kalshi, a platform best known for letting people bet on real-world events, started selling Bitcoin perpetual futures to American customers on June 3. These are called BTCPERP, and [Kalshi is now the first company](https://news.kalshi.com/p/kalshi-launches-perpetual-futures-america)to sell this kind of product after getting the green light from the CFTC. Perpetual futures are financial contracts tied to Bitcoin’s price that do not have a set expiration date. Rather than expiring and settling on a specific day, they use a funding-rate mechanism to keep the contract price closely aligned with the underlying market. These products are widely traded around the world, with offshore platforms recording more than $90 trillion in volume last year.  Haruko partners with Kalshi to elevate institutional crypto risk management. Crypto Insight Analysis: Direction: Bullish BTC Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: CFTC approval of Kalshi's BTCPERP opens institutional access to regulated crypto derivatives in the US.