Kalshi to Offer Crypto-Collateralized Loans for Leveraged Futures Bets via BitGo

Kalshi Inc. will let clients of its Kalshi Prime futures commission merchant borrow against digital assets held at BitGo Holdings Inc. to fund margin positions on futures traded on its main exchange, the company said Wednesday. Loans will be issued by Kalshi Katalyst, a Kalshi Prime lending affiliate, and secured against assets deposited at BitGo Bank & Trust under a tri-party collateral management structure. Eligible collateral includes Bitcoin, Ether and stablecoins deemed compliant with the Genius Act, Kalshi Prime CEO Jeff Bandman said in an interview. Additional custodians are expected to join the network. Kalshi began listing perpetual futures tied to gold, silver and cryptocurrencies earlier this year and has sought regulatory permission to list perpetual-style products linked to oil and U.S. stocks. Its clearinghouse, Kalshi Klear, applied to the Commodity Futures Trading Commission last month to offer margin on select event contracts. Bandman said the arrangement is aimed at crypto-native trading firms and large digital-asset holders, a segment where Kalshi may face a structural disadvantage versus offshore rival Polymarket.