Polymarket launches cryptocurrency perpetual contracts: up to 20 times leverage supported

On September 3, the prediction market platform Polymarket launched its perpetual contract product Polymarket Perps, initially covering 10 contracts including Bitcoin, Ethereum, Solana, HYPE, gold, silver, WTI crude oil, S&P 500, Nasdaq 100, and contracts tracking SpaceX stock, expanding to 67 markets within hours.

This product has no expiration date, with contract prices continuously tracking the underlying assets and maintaining anchoring to spot prices through a funding rate that settles hourly, with a bidirectional cap on the funding rate of 4% per hour. Cryptocurrencies, S&P 500, crude oil, gold, and silver support up to 20 times leverage, while individual stocks and other real assets support up to 10 times. U.S. traders are unable to place Perps orders and will be directed to Polymarket US, which is regulated by the Commodity Futures Trading Commission (CFTC). This arrangement stems from a settlement reached between Polymarket and the CFTC in 2022, where the company was fined $1.4 million for operating an unregistered swap execution facility and was required to cease related non-compliant contracts.