Kalshi Launches Gold and Silver Perpetual Futures with CFTC Approval
Kalshi has launched gold and silver perpetual futures contracts in the U.S., becoming the first to offer non-crypto perps under regulatory approval from the Commodity Futures Trading Commission (CFTC). These contracts, which do not expire and align with spot prices via a funding mechanism, aim to provide an alternative to traditional options like ETFs or physical metal storage. The move follows Kalshi's earlier success in launching regulated crypto perpetual futures last May. Kalshi’s expansion into precious metals comes after its commodity-related event contracts reached $400 million in trading volume within seven months — a milestone achieved faster than with its crypto offerings. Udesh Jha, chief risk officer at Kalshi Klear, highlighted the appeal of gold and silver as inflation hedges. The company is also seeking to expand further into equity indexes, copper, and currencies. The introduction of regulated perps has disrupted traditional futures exchanges like CME Group and CBOE Global Markets, which saw their stocks fall after initial approval in May 2026. CME even filed a lawsuit against the CFTC over its decision.
Topics: CFTC approval futures contracts gold Kalshi silver