Kalshi seeks to launch ‘perps’ on equity indexes as it moves in on traditional exchanges' turf

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Prediction market platform Kalshi in a regulatory filing on Tuesday revealed it is seeking to launch perpetual futures tied to equity indexes. The filing with the Commodity Futures Trading Commission is the latest move by the company to expand beyond just its prediction markets offerings, which started in late May when Kalshi first received approval for perpetual futures tied to cryptocurrencies. Perpetual futures, colloquially known as "perps," are futures-style contracts where there is no expiration and traders do not need to own the underlying asset. Contracts instead track the price of an asset continuously, with funding payments to keep the contract price aligned with that of the market. Kalshi's "US500" perp, according to the filing, would be tied to the MerQube U.S. Large Cap Index , which tracks the largest 500 companies listed and based in the U.S. Last month, Kalshi filed with the CFTC a proposal to launch perps tied to precious metals, like gold and ...

From jumpers to slug pellets - how British wool is back in demand

Image source, Getty Images Image caption, An increased demand in wool has meant prices have increased more than 70% in the last year By Hywel Griffith Wales correspondent Published 3 hours ago The price of wool has increased more than 70% in the last year, helped in part by a smaller British flock of sheep and a dwindling of the global stockpile produced during the Covid-19 pandemic. Prices reached a 10-year high earlier this year, and comes after some farmers burnt fleeces in protest against how little they were being paid. On average, a kilogram of clean shorn wool sold for 2.54 in the most recent sale, compared with less than 1.50 a year ago. The rising cost may not be welcomed by shoppers seeking woolly socks and jumpers this winter, but it does mean farmers are more likely to cover the cost of shearing. And while most people associate the versatile fibre with jumpers and blankets, it is also used in products ranging from flood protection systems to slug pellets, further helping fuel demand. Image source, Getty Images Image caption, The wool industry has survived centuries, with the versatile fibre being spun back in the Bronze Age Wyn Williams keeps a flock of 700 sheep on the hills above Llanfair Caereinion in Powys and said it could be an expensive business. He said the demand and subsequent increase in price "helps cover costs". "We've got professional shearers coming, it's not everybody who can shear," Williams said. "You've also got your helpers, the wool wrappers and everything else so it assists with the costs." Image caption, Wyn Williams's sheep live on the hills above Llanfair Caereinion Like most sheep farmers, Williams primarily rears them for meat and breeding rather than for their wool, but it still has to be taken care of. "Most importantly we have to shear from an animal welfare and health perspective. "Who would want a big, strong winter coat still on with the excessive heat we're having at the moment?" Sheep are disappearing from our hills - and our dinner plates Published 6 March The fleeces from Williams's farm are taken to a local wool depot in Newtown, where manager Barry Bellis sorts through them by hand. It is an industry that has survived centuries, with wool being spun back in the Bronze Age. Bellis said he could spot 68 different grades of wool as he had worked through the fleeces, with the best destined for formal wear while others ended up as slug pellets. Image caption, The warehouse holds piles and piles of fleeces, graded and ready to be packed up for processing "If you've got a nice white fleece, you're able to dye it pink, green, blue, whatever colour you want," he said "The blue face Leicester fleece, which is our closest to the merino, that will go into knitwear like men's suits." Wool from Welsh mules is more likely to be walked on than worn. "This type of fleece, which contains kemp," Bellis...

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