Kalshi launches gold and silver perps after CFTC approval

Kalshi has launched 24/7 perpetual contracts for gold and silver, expanding its trading offerings beyond crypto assets and prediction markets, the company said Thursday. The prediction market operator said the products are the first of their kind in the US and are regulated by the CFTC. Kalshi confirmed to CNBC that the CFTC approved its precious metals listings this week, following a July filing with the regulator. Udesh Jha, chief risk officer at Kalshi Klear, said strong interest in commodities prompted the company to make metals its next perpetual market. Kalshi said trading volume in its commodity-related event contracts, including metals and oil, has exceeded $400 million in seven months. Perpetuals are futures-style contracts without expiration dates that allow traders to gain exposure to an asset without owning it directly. Kalshi said its perpetuals give investors a simpler way to gain leveraged exposure to gold and silver while avoiding the rollover costs of futures and management fees associated with ETFs. The company said perpetuals generated $90 trillion in offshore trading volume in 2025. Kalshi is seeking approval for additional perpetuals tied to US equities, copper...