Kalshi Launches 24/7 Gold and Silver Perpetuals in the US | LeapRate
Kalshi has launched what it describes as the first CFTC-regulated perpetual futures contracts in the United States, covering gold and silver.
The new products trade around the clock and carry no expiration date, according to a company announcement published on September 10, 2026.
The exchange said the launch addresses long-standing limitations in how commodities are traded. Traditional futures contracts, which originated as tools for farmers to lock in crop prices ahead of harvest, were built with fixed expiration dates.
Kalshi argues that structure is poorly suited to assets such as metals, currencies and digital assets, where most participants are not seeking physical delivery and have no need to roll positions on a set schedule.
According to Kalshi, existing ways to gain exposure to precious metals each carry drawbacks. Traditional futures involve rollover costs, exchange traded funds are indirect, often carry higher management fees and offer no leverage, and physical bullion purchases involve storage, transport and resale costs.
The company positions perpetuals as a lower friction alternative that consolidates liquidity into a single, continuously traded contract.
Kalshi noted that perpetual contracts already account for a large share of derivatives activity overseas, citing roughly 90 trillion dollars in offshore perpetuals trading volume in 2025.
The company said its move brings a similar structure to the US market under CFTC oversight for the first time, giving American traders access to a format previously available mainly through offshore venues.
