Users of the Kalshi prediction market could soon bet on the price movements of gold (TVC: $GOLD) bullion.
Kalshi is seeking regulatory approval to offer perpetual future contracts tied to the price movements of gold, foreign currencies, and energy products such as crude oil.
Media reports say that Kalshi is in advanced discussions with U.S. regulators to introduce perpetual futures linked to traditional assets and commodities.
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The proposal covers contracts tied to precious metals, foreign exchange rates, and energy products.
Unlike traditional futures, perpetual contracts, known as “perps,” have no expiration date, allowing traders to keep positions open without rolling them into new contracts.
Kalshi was one of the first prediction markets to offer crypto perpetual futures and those products have generated $16.1 billion U.S. in trading volume this year.
Kalshi has identified gold as one of the strongest candidates for its perps expansion because it attracts interest from both retail and institutional investors.
Kalsi also wants to offer users the ability to speculate on the price movements of metals and oil given how closely those products are tied to geopolitical events and seasonal trading patterns.
The latest expansion places Kalshi in more direct competition with rivals such as Robinhood Markets (NASDAQ: $HOOD), which has been expanding beyond its online brokerage business.
Robinhood recently introduced perpetual futures that allow its customers to trade cryptocurrencies, commodities, and foreign exchange rates.
Kalshi is privately held and its stock does not trade on a public exchange.
