Polymarket launches perpetual contracts, supporting up to 20 times leverage

According to Decrypt, the prediction market platform Polymarket launched its perpetual contract product Polymarket Perps on September 3, with the first batch covering 10 contracts and rapidly expanding to 67 markets. This product is anchored to spot prices through hourly settlement rates, with up to 20 times leverage supported for cryptocurrencies and some commodities, and up to 10 times leverage supported for individual stocks and other assets. US traders are unable to place Perps orders and must use Polymarket US, which is regulated by the CFTC. This arrangement stems from the settlement agreement reached between Polymarket and the CFTC in 2022, when the company was fined $1.4 million for operating unregistered swap trading facilities.