[Polymarket Launches Cryptocurrency Perpetual Contracts with Up to 20x Leverage] Odaily Planet Daily News: Prediction market platform Polymarket launched its perpetual contract product, Polymarket Perps, on September 3. The initial batch includes 10 contracts covering Bitcoin, Ethereum, Solana, HYPE, gold, silver, WTI crude oil, the S&P 500, the Nasdaq 100, and contracts tracking SpaceX stock. Within hours, the offering expanded to 67 markets. The product has no expiration date, with contract prices continuously tracking the underlying assets and maintaining a peg to spot prices through an hourly funding rate mechanism. The funding rate has a bidirectional cap of 4% per hour. Cryptocurrency, S&P 500, crude oil, gold, and silver contracts support up to 20x leverage, while individual stocks and other real-world assets support up to 10x leverage. U.S. traders are unable to place Perps orders and will be redirected to Polymarket US, which is regulated by the Commodity Futures Trading Commission (CFTC). This arrangement stems from a 2022 settlement between Polymarket and the CFTC, in which the company was fined $1.4 million for operating an unregistered swap execution facility and was required to cease offering non-compliant contracts. (Decrypt)