Kalshi Gold/Silver Perpetuals: self-certified— not the kind of delivery contracts like CME
Kalshi has listed GOLDPERP / SILVERPERP—this follows CFTC 40.2(a) self-certification, not the “official release” that requires a committee’s formal vote by taking things item-by-item.
The contracts track spot prices, are cash-settled, have no expiration date, and use Pyth as the pricing feed. They plan to run 7×24. You can’t get gold bars or silver bars, and you shouldn’t expect to hedge with the same rules as CME physical delivery contracts. The crypto perpetuals that were approved in May are still tied up in litigation with the CME, and the gold/silver track has similar classification disputes.
Just because you can trade it ≠ the regulatory framework is already fixed. If you don’t have a Kalshi account in the U.S., don’t move positions assuming “the U.S. can also trade gold/silver perpetuals.”
Kalshi has listed GOLDPERP / SILVERPERP—this follows CFTC 40.2(a) self-certification, not the “official release” that requires a committee’s formal vote by taking things item-by-item.
The contracts track spot prices, are cash-settled, have no expiration date, and use Pyth as the pricing feed. They plan to run 7×24. You can’t get gold bars or silver bars, and you shouldn’t expect to hedge with the same rules as CME physical delivery contracts. The crypto perpetuals that were approved in May are still tied up in litigation with the CME, and the gold/silver track has similar classification disputes.
Just because you can trade it ≠ the regulatory framework is already fixed. If you don’t have a Kalshi account in the U.S., don’t move positions assuming “the U.S. can also trade gold/silver perpetuals.”
