Kalshi Enters Traditional Derivatives with Copper Perpetual Futures Contract

Kalshi, a prediction markets platform, is expanding its offerings into traditional derivatives with a proposed perpetual futures contract on copper.

The COPPERPERP contract would track the spot price of copper in U.S. dollars per pound using a price feed from Pyth Network, a blockchain-based data oracle that aggregates pricing from various participants such as market makers and exchanges.

This cash-settled perpetual futures contract has no fixed expiration or delivery date and relies on a periodic funding mechanism to keep the contract price tethered to the underlying reference price.

Kalshi intends to list the contract on a continuous basis shortly after CFTC approval, with trade surveillance, know-your-customer verification, risk-based margin, central clearing, and disciplinary procedures in place consistent with the Commodity Exchange Act.