Kalshi is further expanding its operations from the event forecasting market to the derivatives area. The company has submitted an application to the United States Commodity Futures Trading Commission for the planned roll-over of futures contracts linked to the spot price of copper, showing that its product line continues to extend to the wider trading market.
The contract is to track the spot price of copper.
According to the document submitted on 18 August, the contract called COPPERPERP will track the spot price of copper in United States dollars/pounds. Price data to be obtained from Pyth Network. Pyth is a market data provider based on the block chain, which compiles offers from exchanges, dealers and other financial institutions.
Unlike traditional futures, there is no maturity date for the renewal of futures, and traders are not required to change their positions after the expiration of the contract and maintain their positions. In the document, Kalshi indicated that the contract for the renewal of the price of copper would be settled in cash and would not involve in-kind copper delivery. Regular funds payments are also made between the head and the empty head to help contract prices close to the price of copper.
Continue to expand long-term contract operations
This application shows that Kalshi is continuing to break the original event-type forecast market boundary. Just less than a week ago, a Washington State judge ordered the company to stop providing local bets on sports, elections, political events, etc.
According to the report, the United States CFTC has approved Kalshi in May of this year to provide a future for bitcoin. This has also facilitated the platform ' s accelerated access to a wider derivative market. The competitor Polymarket had also previously indicated that it was planned to introduce a renewable futures product, with reference to Nvidia, Coinbase and other related targets.
Copper is a big, mature commodity.
Copper has been a key metal in the global industrial system, as it is widely used for power grids, buildings, electric vehicles, electronics and infrastructure supporting the development of the AI data centre. As demand covers manufacturing and science and technology infrastructure, copper prices themselves are an important trade in the global futures market.
Currently, COMEX, the London Metals Exchange and the Shanghai Futures Exchange provide active copper futures trading. If approved this time, Kalshi will introduce a permanent contractual structure into this mature commodity market.