Kalshi Seeks CFTC Approval for 3 Perpetual Metal Futures as CME Challenges Crypto Ruling
Updated
Updated · Financial Times · Jul 21
Kalshi Seeks CFTC Approval for 3 Perpetual Metal Futures as CME Challenges Crypto Ruling
3 articles · Updated · Financial Times · Jul 21
Summary
Kalshi asked the CFTC on Tuesday to approve perpetual futures tied to gold, silver and platinum, extending a product line that already includes crypto-linked perpetuals.
24-hour demand is driving the push: perpetual futures let retail traders bet around the clock with leverage and settle multiple times a day to track spot prices closely.
The filing deepens Kalshi’s clash with traditional exchanges after the CFTC earlier this year allowed onshore crypto perpetuals, a market previously pushed offshore and dominated by Singapore-based Hyperliquid.
CME is fighting back on two fronts — it sued the CFTC in June over the crypto approvals and is launching a 24-hour gold future this week, though unlike Kalshi’s proposed contracts it still expires.