Kalshi launches CFTC-approved gold and silver perpetuals, files for stock perpetual futures
Kalshi Inc. launched CFTC-approved 24/7 perpetual futures on gold and silver on September 10, the first non-crypto perpetual contracts cleared for a U.S. regulated prediction market platform. The contracts carry no expiration date and no rollover fees. Separately, Kalshi is filing for approval to list single-stock perpetual futures tied to Tesla, Apple, and Nvidia, expanding from commodities into equity-linked derivatives under joint CFTC and SEC oversight.
Single-stock perpetual futures would let Kalshi keep positions open across market closes with no monthly roll cost, directly targeting Robinhood's equity options base and offshore crypto perp traders who currently accept unregulated counterparty risk. The 24/7 structure with zero rollover fees rewrites the cost structure for retail equity exposure, since CME lists no perpetual equivalent.
Dual CFTC-SEC filing means either agency can delay or object, adding regulatory uncertainty that Citadel Securities has already signaled it will exploit. Kalshi's joint SEC-CFTC approval push faces the same jurisdictional fight as its other equity-linked filings, where a regulator claiming turf could freeze contracts mid-approval. Every week Kalshi advances while CME litigates on bitcoin perps, it hardens a margin and fee template rivals must match or cede retail flow.
Becomes the third distinct perpetual-futures launch push by Kalshi this month, after gold and silver perpetuals cleared the CFTC and crude oil perpetuals were filed, as the platform races to build a complete 24/7 derivatives suite before CME can adapt its monthly roll structure or courts impose new limits.