Polymarket is expanding its business scope beyond its 2024 US election prediction platform into derivatives trading. The exchange officially launched perpetual futures products on September 3, 2026.
The rollout kicked off with 10 initial markets spanning Bitcoin, Ethereum, Solana, HYPE, gold, silver, WTI crude oil, the S&P 500 index, Nasdaq 100, and SpaceX stock contracts. The lineup of tradable assets expanded rapidly to 67 markets within hours of going live.
The leverage cap doubled from the 10x limit planned back in April. It now stands at 20x specifically for crypto assets, the S&P 500 index, oil, gold, and silver. For 36 individual equities, including Tesla, Nvidia, Apple, and Coinbase, leverage is capped at 10x.
Platform rules cap the funding rate at a maximum of 4% per hour. Traders opening 20x leveraged positions face liquidation if their trades drop by roughly 2.5% from the initial margin. With these parameters, Polymarket claims it can provide the deepest liquidity with the lowest fees among crypto perpetual platforms.
Going Head-to-Head with Hyperliquid
The derivatives expansion positions Polymarket as a direct challenger to Hyperliquid, the decentralized exchange currently dominating the on-chain perpetual market. Hyperliquid itself is reportedly in talks with Kraken exchange to expand its reach into the United States market.
Access to Polymarket perpetual futures is completely blocked for users in the US, Canada, Cuba, Iran, North Korea, and Syria. United States users are redirected to Polymarket US, a separate entity operating under Commodity Futures Trading Commission (CFTC) oversight with a much more restricted market selection.
The US access restrictions stem from 2022 regulatory enforcement, when the CFTC imposed a $1.4 million penalty on Polymarket for offering unregistered swap transactions.
The Race for Domestic Regulatory Approval
Kalshi capitalized on the market gap by securing CFTC approval on May 29, 2026, to offer Bitcoin perpetual futures products. That regulatory greenlight grants Kalshi exclusive status as the first onshore perpetuals provider in the United States.
The competitive landscape for crypto derivatives platforms is now splitting along two distinct tracks. One camp freely offers dozens of high-leverage markets by shutting out US residents, while the US domestic market has become a specialized arena for platforms willing to navigate regulatory approval queues.
Reported by Decrypt.
Also read: How to Read Candlestick Charts for Beginners
Also read: Coinbase Brings Equity Perpetuals to the US - Directly Testing Dual SEC and CFTC Jurisdiction
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
