Prediction market Kalshi has notified the Commodity Futures Trading Commission that it is self-certifying perpetual futures on gold and silver — GOLDPERP and SILVERPERP — under CFTC Regulation 40.2(a), with an intent to list the contracts on Wednesday, 9 September.
The products expand Kalshi’s CFTC-regulated perpetual futures beyond crypto assets.
Contract stamps
GOLDPERP and SILVERPERP are cash-settled contracts with no expiration date. Kalshi said they will trade on a continuous basis — 24/7, with no scheduled daily, weekend, or holiday close.
The spot reference for both products is Pyth Network. Gold perps track the spot price of one troy ounce of gold in U.S. dollars; silver perps track silver spot. Settlement is in cash; there is no physical delivery of metal.
A periodic funding payment keeps the contract price aligned with the spot reference, so traders can hold a single position instead of rolling dated contracts.
Self-cert path
Kalshi previously asked the CFTC to review precious-metal perps under a slower approval process. The latest filing takes the self-certification path, which lets a designated contract market list a product after certifying compliance with the Commodity Exchange Act.
Crypto perps context
The CFTC approved Kalshi’s Bitcoin perpetual in May, stamped as the first such U.S. product. Kalshi then expanded to 18 crypto assets including Ethereum, XRP, Hyperliquid, BNB, and Cardano perps, and had also sought metals, copper, and equity-index versions.
Separately, CME Group has sued the CFTC over the agency’s treatment of Kalshi’s Bitcoin perps as a future rather than a swap — a suit that remains pending and is color only, not a ruling on these metal filings.
Kalshi already lists short-dated gold and silver event contracts; the new perps would offer continuous, leveraged directional exposure instead of a binary payout at a fixed expiry.
This is a filing / listing-intent note, not confirmation that contracts are already trading. It expands the same CFTC-regulated perpetual futures lane as Kalshi’s earlier crypto American Perpetuals package, now into gold and silver.
Informational only. Not trading advice, signals, or a guarantee of any market outcome.
Written and fact-checked with AI assistance, reviewed by a human editor before publication.
