Kalshi launched CFTC-approved perpetual contracts tied to gold and silver, expanding its U.S. perpetuals business beyond crypto assets and prediction markets. The listings followed a July filing and received CFTC approval this week, Kalshi confirmed to CNBC. The contracts trade around the clock and offer leveraged exposure to precious metals without physical ownership, contract rollovers or ETF management fees. KalshiClear chief risk officer Udesh Jha said demand for commodities led the company to choose metals. Commodity-related event contracts covering metals and oil have exceeded $400 million in volume over seven months, while Kalshi said offshore perpetuals generated $90 trillion in trading volume in 2025. Kalshi is seeking approval for perpetuals tied to U.S. equities, copper and currencies as CME Group challenges the CFTC's approval of U.S. crypto perpetuals.