Kalshi seeks regulatory approval for a cash-settled copper perpetual futures contract using Pyth Network price feeds.
Kalshi has filed with the Commodity Futures Trading Commission to launch a copper perpetual futures contract, marking its expansion beyond prediction markets. The proposed COPPERPERP contract would track spot copper prices in USD per pound via Pyth Network, a blockchain-based data provider, and settle in cash without physical delivery or expiration dates.
The filing follows Kalshi’s May approval for a Bitcoin perpetual futures contract and comes amid broader industry interest in perpetual futures. Rival Polymarket previously announced plans for similar products tied to equities like Nvidia and Coinbase. Perpetual futures allow traders to maintain positions indefinitely, avoiding contract rollovers.
Kalshi’s move follows a recent court order restricting its event-based prediction markets in Washington state. The copper contract would rely on periodic payments between long and short traders to align its price with the underlying asset.