Gold, currencies and energy could be Kalshi’s next big push as the platform asks regulators to expand its never-expiring futures business.
Kalshi wants to move beyond event betting and become a place where traders can make never-ending bets on gold, currencies and energy, Reuters has learned.
The prediction markets platform is in advanced talks with regulators to expand perps into new markets, Udesh Jha, Kalshi’s chief risk officer, told Reuters. Jha said:
“Beyond crypto, the other asset classes that we’re looking at are very much driven by the market, for instance, things like gold. Gold is something that’s coming up because it’s retail friendly. Our participants skew towards the retail side, but also institutional”
Jha added that Kalshi is seeking approval for other areas, including foreign exchange and energy.
Read also: Kalshi and Polymarket Volume Surges 75% to $44.8B in June — FIFA World Cup Drove $832M in Bets
CME Is Already Pushing Back
The push would put Kalshi more directly against CME Group, the world’s largest derivatives exchange.
And that activity has already prompted CME to sue the Commodity Futures Trading Commission and its chairman, Michael Selig, over the regulator’s decision to let Kalshi and Coinbase list perpetual futures.
As outgoing CME CEO Terry Duffy argues, those approvals a “disaster waiting to happen,” adding that retail traders may not understand the risks.
If and when regulators approve the plan, Kalshi would no longer be competing only with Polymarket, its key rival. Instead, it would move deeper into the territory of CME, Nasdaq, Cboe and Intercontinental Exchange, the parent company of the New York Stock Exchange.
Kalshi’s expansion comes as the company eyes going public. As Bitcoin Foundation reported earlier, Kalsi is eyeing a listing by late 2027 or early 2028.
Read more: Kalshi in Talks for New Funding Round at $40B Valuation
