Kalshi has introduced 24/7 perpetual contracts for gold and silver, marking an expansion beyond its traditional prediction markets and crypto assets. These instruments are the first of their kind in the United States to receive regulatory approval from the Commodity Futures Trading Commission (CFTC).
The platform secured the necessary clearance this week following a formal filing submitted in July. According to Udesh Jha, chief risk officer at Kalshi Klear, the decision to list precious metals was driven by significant investor demand for commodity-related trading products.
The company reported that trading volume for its existing commodity event contracts, which include oil and metals, surpassed $400 million over the past seven months. Perpetual contracts allow traders to maintain leveraged exposure to assets without direct ownership or the rollover costs typical of futures.
Kalshi noted that the global offshore market for perpetuals reached $90 trillion in trading volume during 2025. The firm is currently pursuing regulatory approval to launch additional perpetual contracts linked to US equities, copper, and various currencies.
This expansion has drawn scrutiny from established derivatives exchanges, including CME Group. The latter has previously initiated legal action against the CFTC regarding the regulator's approval of crypto-based perpetual contracts in the United States.
