Kalshi seeks CFTC approval for gold, forex, and energy perpetual futures
Kalshi is seeking CFTC approval to list perpetual futures on gold, foreign exchange, and energy commodities. The move would expand the prediction-market platform beyond its existing crypto perpetuals and core event-contract business into traditional derivatives markets. Kalshi is in active discussions with regulators about the new asset classes. The expansion would put Kalshi in direct competition with Robinhood, which recently rolled out multi-asset perpetual futures through Bitstamp.
Kalshi needs fresh perpetual verticals to justify its valuation momentum amid a legal squeeze on its core U.S. business. The CME is suing to block its existing perpetual structure. A court reversal would force restructuring across all planned markets. Gold, forex, and energy contracts diversify revenue if event contracts face state bans or securities reclassification. Every expansion front now competes for legal bandwidth stretched across Atlantic and domestic fights.
Institutional market makers will deepen commitments only if the product architecture survives intact. The World Cup volume surge gives Kalshi live proof it can handle size, but regulators may treat that same footprint as evidence the platform has outgrown its prediction-market designation. A second asset-class approval before the CME case resolves would entrench Kalshi's derivatives-exchange identity.
Kalshi's push into gold, forex, and energy perpetual futures marks its first expansion beyond the crypto perpetuals the CFTC approved on May 29, 2026, as the platform races to build a full derivatives exchange before product reclassification threats close the window.