Kalshi Files to Launch Copper Perpetual Contract, Utilizing Pyth Network Price Data with No Expiration Date

Odaily News - Prediction market operator Kalshi filed an application with the U.S. Commodity Futures Trading Commission (CFTC) on August 18 to launch the copper perpetual contract COPPERPERP. The contract will track the dollar-denominated spot price of copper and utilize price data from blockchain market data provider Pyth Network.

The contract is cash-settled and does not involve physical delivery of copper; regular payments between long and short traders will help keep the contract price aligned with the copper price. The perpetual contract has no expiration date, allowing traders to hold positions indefinitely without needing to roll over to new contracts.

Kalshi previously received approval in May to offer bitcoin perpetual contracts and has also submitted an application for stock index perpetual contracts. Less than a week before the copper perpetual contract application was filed, a judge in Washington state ordered the company to cease offering sports, election, political, and other event-related betting in the state. (Decrypt)