Kalshi’s gold silver futures could trade 24/7, challenging CME’s grip
Kalshi is pushing into precious metals. The prediction-market platform, known for its rapid rollout of crypto-linked derivatives, has asked federal regulators to let it list perpetual futures contracts tied to gold and silver — a move that would bring the Kalshi gold and silver futures products into a market long dominated by traditional exchanges like CME Group. The filings, submitted on September 9 to the Commodity Futures Trading Commission, mark the company’s first step outside cryptocurrency since it began building out its no-expiry contract lineup earlier this year.
Key takeaways
- Kalshi filed with the CFTC on September 9 to launch GOLDPERP and SILVERPERP, perpetual futures tracking gold and silver spot prices.
- Both contracts are cash settled with no physical delivery and carry no expiration date, using a funding rate to stay aligned with spot markets.
- Pyth Network will act as the designated price oracle for both products.
- Kalshi wants the contracts to trade 24/7, including weekends and holidays — an expansion from an earlier 24/5 proposal.
- The filing cites persistent silver supply shortfalls dating back to 2021 and expected to continue into early 2026.
Kalshi Files for Gold and Silver Perpetual Futures with CFTC
Kalshi’s latest regulatory push seeks authorization for two dollar-settled instruments that would give traders exposure to gold and silver prices without ever touching the metal itself. The company submitted its applications through CFTC Regulation 40.2(a), a self-certification pathway that lets a registered exchange launch a new product by attesting it complies with the Commodity Exchange Act, rather than waiting for a formal commission vote on each contract.
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