Push for listing on the second business day of the IPO... SEC publishes amendment to Kalshi perpetual futures

KalshiEX is seeking a rule change that would let it list perpetual futures tied to newly public U.S. stocks as soon as the second trading day after an IPO, and the SEC published the proposed listing-standard amendment on the 6th. The notice covers the rule change itself rather than approving individual contracts or granting automatic listing. Under current standards, IPO-linked contracts require at least one month of trading history; the amendment would instead set a cumulative volume threshold of 2.4 million shares from the IPO date for stocks listed less than a month, while all other listing requirements still apply. Stocks with an IPO-price market cap of at least $3 billion would get specific treatment during their first three trading days. The change matters because it would shorten the lag between a company going public and derivatives trading on its shares, and the next thing to watch is how the SEC's comment and review process treats the amendment.