Kalshi, the CFTC-regulated prediction market platform, is now pushing into traditional commodities. The company is in advanced talks with the Commodity Futures Trading Commission to launch perpetual futures contracts on gold, metals, foreign exchange, and energy products.
If approved, it would mark a significant expansion beyond the crypto-only perpetual futures Kalshi launched on May 29, 2026. The platform has accumulated $16.1 billion in perpetual futures trading volume since the late May launch through July 9, 2026. Roughly $5.5 billion was traded in just the first two weeks after launch.
Perpetual futures are contracts that never expire. Traders can hold leveraged positions indefinitely, paying or receiving a funding rate to keep the contract price tethered to the underlying asset. The platform currently lists 11 perpetual futures contracts, all focused on crypto assets.
Kalshi’s Chief Risk Officer, Udesh Jha, highlighted gold’s appeal as a retail-friendly asset that fits naturally within the platform’s broader market strategy, noting strong demand signals from both retail and institutional participants.
One notable wrinkle: expanded asset class perpetuals would likely trade during regular market hours rather than the 24/7 schedule that crypto perpetuals enjoy.
