Kalshi Launches Gold and Silver Perpetual Futures After CFTC Clearance

Kalshi, a prediction-market operator, has launched perpetual futures tied to gold and silver after receiving clearance from the Commodity Futures Trading Commission (CFTC). This marks Kalshi's first foray into non-digital asset perpetuals.

The contracts are cash-settled derivatives that track the spot price of one troy ounce of gold or silver in U.S. dollars. They do not expire and require no ownership or delivery of the underlying metal, instead relying on a periodic funding mechanism to keep each contract's market price aligned with the reference spot rate.

The CFTC cleared Kalshi's listings after reviewing a filing submitted in July. The company has identified Pyth Network as the price source for the contracts, drawing on quotes from market makers, venues, and institutions.