Blockchain-based prediction market Polymarket has started perpetual futures trading that lets users bet on cryptocurrency, stock and commodity prices. It is expanding its business from a prediction market that trades outcomes of events such as elections and sports into leveraged derivatives.

The Defiant reported on Sept. 3, local time, that Polymarket unveiled Polymarket Perps for international users. Perpetual futures, unlike regular futures, are derivatives that allow traders to maintain long and short positions without a fixed expiry date. They periodically pay and receive funding fees to keep the contract price close to the underlying asset price.

A total of 67 contracts were offered on the launch day. They included 36 stocks, 24 cryptocurrencies, four commodities and three indexes, covering Bitcoin, Ether, Tesla, Nvidia, Samsung Electronics, gold, silver, crude oil, the S&P 500 and the Nasdaq 100. Bitcoin and products tied to gold, crude oil and the S&P 500 support leverage of up to 20 times, while products linked to general physical assets support up to 10 times leverage.

Polymarket has focused on prediction markets that trade probabilities of specific political, economic and sports events. With the launch, users can take positions not only on event outcomes but also directly on rises and falls in the prices of financial assets. It overlaps with the competitive territory of crypto derivatives platforms such as Hyperliquid.

U.S. users cannot use the service. Polymarket’s official documents say perpetual futures orders are blocked in the United States and Canada, among other places. In the United States, competitor Kalshi launched cryptocurrency perpetual futures in May under CFTC regulation. Polymarket is also expanding its U.S. business, but this derivatives service is a separate product aimed at overseas markets.

On the first day, total trading volume in Polymarket perpetual futures was estimated at about $73 million, or about 99.1 billion won. Hyperliquid’s daily perpetual futures volume is about $7 billion, or about 9.51 trillion won, leaving a wide gap. How much Polymarket, a strong player in prediction markets, can bring its existing user base into the derivatives market is expected to be key to future competition.

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