Kalshi asks CFTC for margin trading on event contracts

Prediction market platform Kalshi filed with the Commodity Futures Trading Commission on 22 September 2026 to seek approval to offer leverage on event contracts. The filing came from Kalshi Klear, the company's internal clearing house, as event contract exchanges work to attract institutional liquidity.

All event contracts on regulated US exchanges are currently fully collateralised. Kalshi already provides leverage on its perpetual futures contracts, but it does not yet have regulatory approval to offer margin on prediction markets. Rival platform Polymarket made moves in July to obtain US regulatory licences to eventually offer margin trading, according to Bloomberg News.

A Kalshi spokesperson told CNBC that the exchange will exclude sports event contracts, culture markets, and mention markets from margin trading. In a memo provided to CNBC, Kalshi stated that leverage would make contracts with expiration dates far in the future more attractive to institutional traders.

Under the proposed framework, capital requirements to obtain leverage will rise as contracts approach their expiration date. If approved, marginable contracts will only be open to self-clearing members that maintain direct relationships with Kalshi Klear and satisfy specific capital criteria.