Kalshi is pushing to bring one of crypto’s most popular trading instruments to the world of precious metals. The company is seeking CFTC approval to launch non-expiring perpetual futures contracts tied to gold, silver, and platinum, a move that would mark a significant expansion beyond its digital asset roots.
From prediction markets to perpetual futures powerhouse
Kalshi’s trajectory over the past year has been something to watch. The company, which originally made its name as a CFTC-regulated prediction market, has been steadily reinventing itself as a derivatives venue with broader ambitions.
The pivot gained serious momentum when the CFTC approved Kalshi’s Bitcoin perpetual futures contract, known as BTCPERP, on May 29, 2026. That made it the first US-regulated Bitcoin perpetual futures product, a milestone that the crypto industry had been chasing for years.
Kalshi has reported $16.1 billion in perpetual futures trading volume since launch. A July 9 report indicated the company had been in active discussions with regulators about expanding its perpetual offerings beyond crypto into metals, foreign exchange, and energy markets. The precious metals filing appears to be the first concrete step in that broader plan.
