Kalshi Gold Silver Futures Expand Precious Metals Trading - The Cryptonomist

AI desk brief

Kalshi filed with the CFTC on Sept. 9 to launch GOLDPERP and SILVERPERP, cash-settled perpetual contracts tracking gold and silver spot with no expiration and no physical delivery. The products would trade 24/7 with a funding-rate mechanism to keep them aligned to spot, and Pyth Network would serve as the price oracle.

The filing frames SILVERPERP against a backdrop of persistent silver supply shortfalls since 2021, expected to continue into early 2026, while arguing the cash-settled design avoids adding delivery pressure to the physical market. Kalshi is extending a perpetuals franchise that has already reached $8.5bn in cumulative trading volume, raising the prospect of a new regulated venue for around-the-clock metals exposure if approved.