Kalshi partners with BitGo to offer crypto-backed loans for futures trading

Kalshi wants its traders to keep their Bitcoin and trade with it too. The prediction markets company announced a partnership with BitGo Holdings Inc. on October 21, 2026. Eligible clients can now borrow against crypto held in custody at BitGo Bank & Trust and use it as margin for Kalshi’s perpetual futures. How the arrangement works The program runs through Kalshi Prime, the company’s US-registered futures commission merchant. A futures commission merchant is the regulated middleman that handles customer orders and collateral for futures trades. Three types of collateral qualify: Bitcoin (BTC), Ether (ETH), and stablecoins that comply with the GENIUS Act. The loan itself is a tri-party structure. The client is the borrower. Kalshi Katalyst acts as the lender. BitGo serves as the custodian holding the pledged assets. The borrowed funds then back positions in Kalshi’s perpetual futures. Perpetuals are futures contracts with no expiration date. Traders can hold a leveraged long or short position indefinitely, as long as they keep enough margin posted. Who this is built for Kalshi is aiming at two groups. The first is crypto-native traders, the people who already live in perpetuals...