Kalshi Pushes Beyond Prediction Markets With Copper Perpetual Futures
Kalshi filed with the Commodity Futures Trading Commission on August 18 to launch a perpetual futures contract tied to copper prices. The proposed COPPERPERP product would track the spot price of copper in U.S. dollars per pound using Pyth Network price data. Unlike traditional futures, the contract would have no expiration date, and cash settlements plus periodic payments between long and short positions would keep it aligned with the underlying price. The move pushes Kalshi further into derivatives beyond event-based prediction markets and follows a court order in Washington restricting the company from offering certain wagers there. It also comes after the CFTC approved Kalshi’s Bitcoin perpetual futures in May. Copper is a major industrial metal already traded on venues including CME, the London Metal Exchange, and the Shanghai Futures Exchange.
