Kalshi’s US Regulatory Approvals Boost Crypto Futures and Prompt Sports‑Betting Legal Fight

Kalshi, a CFTC‑regulated prediction‑market platform, received approval to list Hyperliquid’s HYPE perpetual futures in the United States. The launch removed expiration dates and waived early‑trading fees, instantly raising open interest by 11 % to $2.49 billion and drawing fresh liquidity across Binance, OKX and Bybit. ETF inflows of $2.78 million added further support, and the token surged more than 10 % on the news.

Separately, Kalashi’s prediction market posted odds indicating a 69 % probability that Bitcoin will reach $50,000 before hitting $100,000, reflecting a bearish tilt among traders despite the platform’s regulated status.

In a related legal development, former SEC and CFTC chair Gary Gensler filed an amicus brief in the Sixth Circuit supporting Ohio’s challenge to Kalshi’s sports‑betting contracts. Gensler argues the Dodd‑Frank Act was never intended to give the CFTC authority over the $165 billion U.S. sports‑betting industry, a dispute that could reshape federal versus state control of gambling markets.