Kalshi Unveils Gold and Silver Perpetual Futures Contracts
Kalshi, a CFTC-regulated prediction market, is expanding its perpetual futures offerings beyond cryptocurrency. The company will now offer gold and silver perpetual futures contracts, which allow traders to maintain continuous exposure to these precious metals without the need for repeated contract rollovers.
The new contracts, GOLDPERP and SILVERPERP, are cash-settled and designed to trade continuously, with no expiration date. They will be available for trading 24 hours a day, seven days a week, including weekends and holidays. Pyth Network will provide reference pricing for both products.
The perpetual futures contracts track the U.S. dollar spot price of one troy ounce of gold (GOLDPERP) or the silver spot price (SILVERPERP). Neither contract involves physical delivery. Kalshi argues that these products could reduce roll costs and basis risk for market participants, such as producers, bullion desks, fabricators, and exchange-traded product market makers.
The launch builds on Kalshi's growing perpetual futures portfolio, which includes Bitcoin and 18 other cryptocurrencies. The company has also explored perpetual products tied to copper and equity indexes. However, the expansion comes amid a legal dispute between CME Group and the CFTC over the regulator's treatment of Kalshi's Bitcoin perpetual contracts as futures rather than swaps.