Kalshi Seeks CFTC Approval for Perpetual Futures on Gold, Silver, Platinum
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Summary
Bloomberg Television's metals spotlight segment discusses Kalshi's application to launch perpetual futures contracts on gold, silver and platinum, with copper potentially next due to AI-driven demand. The interview features Kalshi Chief Risk Officer Udesh Jha explaining the products' appeal for continuous exposure without roll costs or expiry. Jha addresses both retail and institutional users, compares the contracts to crypto perpetuals, outlines plans to initially match traditional market hours before potential expansion, and responds to pushback from traditional exchanges like CME and questions about retail risk. The segment references the company's prior crypto perpetual launch and regulatory path.
Editorial Assessment
The segment accurately reports Kalshi's July 2026 CFTC filing and quotes the company's executive on product benefits such as tighter tracking to spot prices and lower costs. It includes the executive's distinction between regulated perpetuals and offshore products, as well as acknowledgment of incumbent pushback and litigation over the bitcoin perpetual precedent. Viewers receive a clear company perspective but limited independent analysis of market impact, liquidity expectations, or competitive responses beyond the noted CME lawsuit. Context on existing metals futures leverage and trading volumes is absent.
Key Moments
Kalshi seeks CFTC approval for perpetual futures on gold, silver, platinum, with copper possibly next.
Matches Bloomberg reporting on the July 2026 filing and executive comments.
Perpetual contracts offer continuous exposure without expiry or roll costs and track spot prices more closely than traditional futures.
Standard features of perpetual futures; consistent with Kalshi's crypto product and executive description.
Initial trading hours will match underlying markets at 24/5 before potential expansion to 24/7.
Directly stated by Jha in Bloomberg coverage of the plans.
Traditional exchanges such as CME have pushed back, including via CFTC lawsuit over bitcoin perpetual approval.
CME filed suit in June 2026 challenging the CFTC's approval of Kalshi's BTCPERP contract.
Sources Consulted
- Kalshi Seeks Approval to List Perpetual Futures Tied to Gold
- CFTC Approves BTCPERP Contract Submitted by KalshiEX, LLC
- Kalshi seeks approval for perpetual precious metal contracts
- CME sues US CFTC over letting Kalshi, Coinbase offer perpetual futures
- Kalshi Eyes Copper Perpetual Futures After Precious Metals Push