The exchange is using the same self-certification path that fueled its rapid expansion to launch perpetual gold and silver contracts, without waiting on the CFTC to sign off first.
Kalshi has filed self-certifications with the Commodity Futures Trading Commission under Regulation 40.2(a), a pathway that lets a designated exchange list new products by certifying compliance with the Commodity Exchange Act, rather than waiting for the CFTC's formal pre-approval. The filings cover two new products, GOLDPERP and SILVERPERP, cash-settled perpetual futures with no expiration date, tracking one troy ounce of spot gold and silver respectively in US dollars, referencing crypto-native price oracle Pyth Network as the reference source. The filing preceded an intended listing date on or around September 9.
The self-certification approach is the same one Kalshi has used to expand rapidly into sports-event and other contracts that have drawn legal challenges from state regulators. Applying it to a precious-metals perpetual future, a product structure borrowed directly from crypto derivatives markets, is a further extension of that strategy into a new asset class.
A separate report also references a lawsuit CME Group has reportedly filed against the CFTC concerning the regulator's treatment of Kalshi's Bitcoin perpetual futures. That claim appears in only a single source and has not been independently verified against a second outlet or a court record; it is treated here as an unconfirmed, adjacent development rather than an established fact.
For an exchange whose growth strategy has repeatedly relied on launching first and litigating regulatory pushback later, a gold and silver perpetual-futures product is less a story about precious metals and more a story about how far that playbook can be extended before it draws the same kind of challenge Kalshi is currently fighting on a different front.