Kalshi Seeks Approval for Copper-Backed Perpetual Futures

Kalshi, a prediction market operator, has filed with the Commodity Futures Trading Commission (CFTC) to launch a perpetual futures contract tied to copper prices. The proposed COPPERPERP contract would track the spot price of copper in U.S. dollars per pound using Pyth Network's price feed.

Pyth Network aggregates pricing from exchanges, market makers, and other financial firms. Kalshi has also filed for stock-index perpetuals after winning approval for a Bitcoin perpetual in May.

Perpetual futures contracts have no expiration date, allowing traders to keep positions open without rolling into a new contract. The Copper Perp contract would be settled in cash, with no physical copper changing hands.