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XRP Kalshi submitted an application to the Commodity Futures Trading Commission to launch two new perpetual futures contracts.
The forecasting market platform Kalshi has submitted documents to the U.S. Commodity Futures Trading Commission (CFTC) and plans to launch two new perpetual futures contracts, GOLDPERP and SILVERPERP, on September 9. Both contracts are settled in cash and have no expiration date.
Gold perpetual contract joins Kalshi's product line
Kalshi filed this filing in accordance with CFTC Article 40.2(a). This self-certification path allows exchanges to market products without prior regulatory approval, so Kalshi directly confirms that they comply with the Commodity Exchange Act and does not require a separate review step before the launch date.
This gold perpetual contract tracks the spot price of one troy ounce of gold. Traders only need to hold a single position and do not need to roll over between contracts that expire differently. Kalshi sets reference prices through Pyth Network. Settlement is conducted entirely in cash and does not involve the delivery of physical metals.
Regular funding fee payments are intended to bring contract prices close to the spot exchange rate. Kalshi said this structure could help hedge funds reduce rollover costs and basis risk. Manufacturers, gold and silver counters and producers are likely to benefit the most from this continuous exposure management.
Silver perpetual contracts add new options to the market
The exchange also plans to list silver perpetual contracts on the same day. SILVERPERP tracks the spot price of silver denominated in US dollars, and settlement is also conducted entirely in cash and does not involve physical delivery.
Kalshi pointed out that the silver market has experienced consecutive annual supply deficits since 2021 and noted tensions in the market from the end of 2025 to the beginning of 2026. Cash settlement eliminates any risk of delivery pressure due to shortages.
This contract is traded around the clock and there are no daily or weekend closures. Kalshi's trading time range is broader than its initial plan proposed in July, which recommended a five-day trading week. The final structure was changed to operation 24 hours a day, seven days a week.
Kalshi continues its previous successful experience with cryptocurrency perpetual contracts
Kalshi first launched the Bitcoin perpetual contract in May this year and was approved by the CFTC, becoming the first such product in the United States. Subsequently, the exchange expanded its business scope to include eighteen crypto assets, including Ethereum and XRP.
The company has also added contracts tied to Hyperliquid, BNB and Cardano. In addition, Kalshi sought approval for metals, copper and equity index products separately. The gold and silver perpetual contract marks the next step in its broader strategic plan.
It is worth noting that CME Group has filed a lawsuit over the CFTC's classification of Kalshi's Bitcoin perpetual contracts. At the heart of the controversy is whether the product should be classified as a futures or a swap contract. Kalshi's existing gold and silver event contracts remain independent and are short-term products with fixed maturity dates.
