Kalshi Pushes into Precious Metals with Gold and Silver Perpetual Futures

Kalshi is expanding its trading platform to include perpetual futures contracts tied to gold and silver. The company has filed with the Commodity Futures Trading Commission (CFTC) for two new products, GOLDPERP and SILVERPERP, which would mirror the U.S. dollar spot price of one troy ounce of gold and silver respectively.

The perpetual structure of these contracts means they have no expiration date and are settled in cash, eliminating the need for physical delivery or periodic rolling. A funding rate mechanism keeps the contract price tethered to the underlying spot market.

Kalshi wants these contracts to trade 24/7, including weekends and holidays, which is a notable jump from their earlier proposal of 24/5 trading hours. Pyth Network has been named as the designated price oracle for both products, providing a transparent and continuously updated benchmark.