On May 30th, PANews reported that Kyle Samani, former co-founder of Multicoin Capital, published an article on the X platform analyzing three future development scenarios for Kalshi and the US crypto perpetual contract market. First, existing unregulated perpetual contract channels in the US are mature, limiting the impact of Kalshi's past efforts. Second, if the CLARITY Act is passed, protocols that pass eight decentralized tests can operate without registration of relevant licenses. Third, while related products have user appeal, they have consistently struggled to gain compliant access to the US financial system.

This analysis also reflects the numerous contradictions between US derivatives regulations and decentralized protocols, and the compliance and implementation of innovative products remains highly uncertain.