Prediction market Kalshi is expanding into cryptocurrency trading by offering perpetual futures trading on its platform. 

Perpetual futures trading lets investors buy and sell derivative contracts that track an asset’s price such as a stock or cryptocurrency. 

The move puts Kalshi in direct competition with U.S. exchanges such as Coinbase Global (NASDAQ: $COIN). 

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Kalshi will enter the crypto market by offering perpetual futures on cryptocurrencies such as Bitcoin (CRYPTO: $BTC).

Cryptocurrency perpetual contracts are largely off-limits to U.S. traders and are viewed as a risky product popular on overseas exchanges such as…