Since its launch last Wednesday, Kalshi Perp's perpetual trading volume has surpassed $1 billion. In the first 24 hours after launch, Kalshi Perp's trading volume exceeded $100 million. The competition in Perp is far more intense than in prediction markets. According to DeFiLlama, 18 protocols had trading volumes exceeding $1 billion last week, with Hyperliquid surpassing $80 billion. That said, Kalshi Perp remains the company's fastest-growing product, with the waitlist surpassing 1 million people. Kalshi is the first company approved by the CFTC to offer Perp perpetual contracts in the U.S., and Coinbase received approval on the same day.