Webull will begin offering Bitcoin perpetual futures to its more than 6 million clients in November 2026, the Nasdaq-listed brokerage said in an October 20 announcement, in partnership with prediction-market operator Kalshi.
The launch marks a second crypto product for the brokerage in under two months. In September 2026, Webull introduced event contracts tied to Bitcoin and Ethereum, contracts that pay out when a specific outcome or price level is reached. The step up from event contracts to perpetual futures, futures with no expiry date that stay open through recurring funding fees, puts the brokerage in the crypto derivatives business that has historically run through offshore venues.
A regulated route for an offshore product
Trades in the new futures will run through KalshiEX LLC, Kalshi’s exchange entity overseen by the Commodity Futures Trading Commission. That structure means a product US retail investors could previously access mostly through unregulated offshore exchanges now settles inside a CFTC-regulated environment.
The regulatory groundwork was laid earlier in 2026, when the CFTC approved the first US perpetual futures contracts, with Coinbase and Kalshi among the initial approvals. Webull’s rollout extends that shift from exchange operators to a mass-market brokerage: the first lineup will feature Bitcoin and a handful of other crypto assets, Webull said.
The scale of the market it is reaching into is large. Global perpetual futures volume reached roughly $90 trillion in 2025, an industry estimate rather than an exchange-verified figure, and the product has been the liquidity engine of offshore crypto trading.
What it changes for Webull and its clients
Webull trades on Nasdaq under the ticker BULL, so each expansion of its crypto menu lands in front of public-market investors. The October 20 announcement drew a positive market reaction, which observers read as optimism about the brokerage’s expanding crypto capabilities.
For the brokerage’s clients, the product changes access rather than the underlying risk: perpetual futures carry funding costs and borrowed positions, and eligibility for the November rollout will determine which of the 6 million accounts can use it. Webull has not said which assets beyond Bitcoin will open first, nor when the lineup might widen, and November remains a planned start rather than a live one.
The move also deepens Kalshi’s own shift from political-event betting into market infrastructure, supplying the exchange rails for a listed brokerage’s crypto derivatives. The November rollout is the next dated milestone.
