Hotcoin Launches Pre-Market Trading for Kalshi and Polymarket Perpetual Futures

Hotcoin announced it will launch pre-market trading for two new perpetual futures contracts, KALSHIUSDT and POLYMARKETUSDT, at 17:00 (UTC+8) on April 15, 2026. Both contracts will be quoted and settled in USDT and support leverage of up to 10x, the exchange said.

The KALSHIUSDT contract tracks the market valuation of Kalshi, a US-based prediction market platform regulated by the Commodity Futures Trading Commission (CFTC). Since Kalshi has not yet completed an initial public offering, Hotcoin said the contract is designed to provide a valuation reference and support price discovery during the pre-IPO phase. The contract uses a valuation unit of USD 1 billion, meaning if Kalshi's valuation reaches USD 800 billion, one KALSHI would be priced at USD 800.

The POLYMARKETUSDT contract similarly tracks Polymarket, a leading decentralized prediction market platform. Polymarket has not yet gone public or issued a token, so the contract is intended to offer a valuation reference and facilitate price discovery at this stage. Its valuation unit is also USD 1 billion, with the same calculation example: a USD 800 billion valuation would put one POLYMARKET at USD 800.

Hotcoin framed the new listings as a way to expand trading options and improve user experience. The pre-market perpetual product structure allows traders to take positions on these platforms' valuations before a formal public listing or token issuance occurs, according to the announcement.