Kalshi is seeking approval from the U.S. CFTC to launch perpetual contracts for gold, silver, and platinum

BlockBeats News, July 21st, according to Bloomberg, the U.S. prediction market platform Kalshi is seeking regulatory approval to launch perpetual futures contracts pegged to gold, silver, and platinum, further expanding its precious metals trading business.

Kalshi has submitted an application to the U.S. Commodity Futures Trading Commission (CFTC) with the hope of extending its perpetual contract offerings to the traditional commodity markets. As per the relevant approval process, the regulatory agency will decide whether to approve the product within 45 days.

Kalshi's Chief Risk Officer, Udesh Jha, stated that the precious metals perpetual contracts will initially operate during the underlying market's trading hours, i.e., 5 days a week, 24 hours a day. The company will also consider evaluating the extension of trading hours in the future.