Kalshi Expands Perpetual Futures Offerings with Gold and Silver

Kalshi, a prediction market platform, is expanding its offerings beyond crypto-related products by launching perpetual futures tied to gold and silver in the U.S. The move follows the company's earlier entry into crypto-linked perps and marks its first approved non-crypto perpetual contracts.

The CFTC has granted approval for Kalshi to list perpetual futures linked to gold and silver, which will launch on Thursday. This is a significant development as it marks the first clearance for Kalshi to list non-crypto perpetual contracts. Udesh Jha, chief risk officer at Kalshi Klear, stated that the company chooses metals as its next perp category because of strong user interest in commodities.

The introduction of gold and silver perps is expected to attract investors who are interested in precious metals due to their inflation-related trading narrative. The expansion of Kalshi's offerings comes after the company first wins approval for crypto-linked perpetual futures in late May, which have generated $44 billion in notional volume since then.

Kalshi is also seeking approval for perpetual contracts tied to U.S. equities, copper, and currencies. However, the move has drawn attention from established exchanges such as Cboe and CME Group, whose shares fell after Kalshi's perp launch due to concerns that the structure could challenge existing exchange models.