Kalshi launches perpetual futures on gold and silver after receiving CFTC approval, expanding its derivatives product line.
DeFi & Yields ·
Kalshi has launched perpetual futures contracts on gold and silver following approval from the Commodity Futures Trading Commission, marking the company's expansion beyond its initial cryptocurrency perpetuals offering. The filing occurred in July, with CFTC clearance granted this week and contracts becoming available on Thursday. This represents the first non-cryptocurrency perpetual futures contract approved by U.S. regulators.
Perpetual futures are contracts without expiration dates that track an underlying asset's price through a funding mechanism, requiring no direct ownership of the asset itself. Kalshi selected precious metals as its next perpetual offering due to demonstrated demand, particularly around inflation narratives. The company's commodity-related event contracts have already generated over $400 million in trading volume across a seven-month period. The cryptocurrency perpetuals launched in late May have accumulated $44 billion in notional volume to date.
The company is simultaneously pursuing CFTC approval for perpetuals tied to U.S. equities, copper, and currencies, though the outcomes remain pending. Traditional derivatives exchanges have expressed concern about the new contract class, with CME Group having sued the CFTC over the agency's authorization of perpetuals. Kalshi attributes early traction to its regulated structure and embedded risk controls, contrasting its approach with unregulated platforms operating offshore.