According to CoinMeta, Kalshi submitted an application on September 18th to SEC and CFTC, planning to list perpetual futures related to ETF on U.S. stocks, with a proposal for 23-hour trading on weekdays and a minimum client margin of 15.50%. The SEC document indicates that these contracts will be considered securities futures products and do not have a preset expiration date. CFTC has not yet approved Kalshi's proposal, and relevant records show that its stock perpetual contracts are still in the "pending approval" status. Rule 14.11 proposed by Kalshi sets the trading hours from 6 p.m. on Sundays to 5 p.m. on Fridays, with a daily maintenance window during this period. The rule also stipulates that perpetual securities futures will be settled in cash, and fund payments will be made at the daily settlement time.