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Perpetual futures for Zcash are now live on Kalshi, marking the first time a US-regulated platform has offered leveraged trading products for the privacy-focused cryptocurrency. The launch, which went live on June 30, adds ZEC to a growing roster of digital assets available through Kalshi’s CFTC-approved perpetuals platform.
What Kalshi is actually offering
The ZEC perpetual contracts come with a maximum leverage of 2.2x. Contract sizing is set at 1/100th of a ZEC. At a spot price near $398, that translates to a minimum contract value of roughly $1.81.
ZEC wasn’t added in isolation. A filing dated June 23 expanded Kalshi’s perpetual futures offerings to include both ZEC and NEAR, among others. That filing brought the platform’s total digital asset lineup to 13, a significant expansion from the Bitcoin-only launch just a month earlier.
Until Kalshi received CFTC approval on May 29 for its initial crypto perpetual futures starting with BTCPERP, there was essentially no way for US traders to access these products through a regulated venue.
The volume story so far
Kalshi reported that total trading volume for its perpetual contracts surpassed $1 billion within the first week after the broader launch in late May.
Kalshi CEO Tarek Mansour has framed these products as essential infrastructure for US traders who need proper risk management tools, providing necessary alternatives to offshore platforms with questionable custody practices and opaque risk models.
From event contracts to derivatives powerhouse
The May 29 CFTC approval for crypto perpetual futures was the inflection point. Starting with Bitcoin, Kalshi moved quickly to add assets. Within roughly a month, the platform went from one crypto perpetual to 13 digital assets.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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