Kalshi Files for Hyperliquid Futures and Launches Zero-Fee XRP Trading

In a move reflecting the accelerating adoption of regulated crypto derivatives in the U.S., Kalshi has officially filed with the CFTC to list perpetual futures for Hyperliquid’s HYPE token. The platform has already expanded its retail offering by launching XRP perpetual futures with zero trading fees for U.S.-based users. According to reports, Kalshi’s entry into this segment has seen immediate success, with trading volumes surpassing the $1 billion milestone within a single week of its launch.

This expansion comes amid intensifying competition with major players like Coinbase and Crypto.com, who are also racing to scale regulated derivative products for retail traders. Compared to previous quarters, there is a clear shift in market demand toward CFTC-regulated instruments that offer higher investor protection. Per market data, the inclusion of altcoins like HYPE and XRP in a regulated environment marks a significant evolution for a sector previously dominated by Bitcoin and Ethereum futures.

Traders should closely monitor the CFTC’s response to the HYPE filing, as it will likely set a precedent for future altcoin listings on regulated exchanges. Looking ahead, the market will be watching the U.S. ISM Services PMI release on June 10, 2026, for broader sentiment cues that could impact crypto volatility. Additionally, Kalshi’s ability to maintain its liquidity momentum following the record volumes seen as of early June 2026 remains a key factor for the platform's growth trajectory.