Notice2026-194092026-09-23

Self-Regulatory Organizations; KalshiEX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Listing Standards for Security Futures Products

Securities and Exchange Commission

Action & Dates

Dates: (i) the Underlying Security maintains a Public Float of not less than 6.3 million shares ("Requirement 1.a"), (ii) other than for ETF Shares and TIRs, there are at least 1,600 holders of the Underlying Security, whether of record or beneficial ("Requirement 2.a"), (iii) the ADTV of the Underlying Security is not less than $200 million for the prior calendar quarter, except where the Underlying Security has been listed for less than a quarter, in which case the Underlying Security must have an ADTV of not less than $1 billion over the period traded during the calendar quarter ("Requirement 3.a"); (iv) the Underlying Security must have a closing price of not less than $3.00 per share on each of the ten (10) consecutive trading days immediately preceding the Review Date ("Requirement 4.a."), (v) if the Underlying Security is an ADR, meet one of the four criteria set forth in Maintenance Requirement V of SLB 15 ("Requirement 5.a"), (vi) confirmation that the issuer of the Underlying Security is current in all periodic and other reporting obligations under Sections 13 and 15(d) of the Act \33\ ("Requirement 6.a"), (vii) the Underlying Security has an estimated deliverable supply of at least 20 million shares ("Requirement 7.a") and (viii) the Underlying Security has a market capitalization of not less than $50 billion ("Requirement 8.a").

Document Excerpt

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-106422; File No. SR-KALSHIEX-2026-02] September 18, 2026. Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934 (“Act”), [ 1 ] and Rule 19b-7 under the Act, [ 2 ] notice is hereby given that on September 18, 2026, KalshiEX LLC (“Kalshi” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change described in Items I, II and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. Kalshi has submitted the proposed rule change to the Commodity Futures Trading Commission (“CFTC”) for approval under Section 5c(c) of the Commodity Exchange Act (“CEA”) [ 3 ] on September 18, 2026. The CFTC has not yet approved the proposed rule change. I. Self-Regulatory Organization's Description and Text of the Proposed Rule Change Kalshi proposes to adopt Chapter 14 of its Rulebook to enable the Exchange, pursuant to its designation by the CFTC as a contract market (a “DCM”) and notice-registration with the SEC as a national securities exchange under the Act, to list contracts that convey exposure to the price of an underlying equity security, have no pre-specified expiration date and are designated as Perpetual SFPs in their respective contract specifications (such contracts, “Perpetu…

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Citation: 91 FR 60467