Kalshi’s 15-minute gold contracts generated an estimated $5 million in September fees

News Editor

2026-10-07 05:06:52

Prediction market platform Kalshi’s 15-minute gold contracts, launched in August, generated an estimated $5 million in fees in September, nearly double the roughly $2.6 million recorded by Ethereum contracts over the same period. Data from Predict Charts showed the gold contracts traded 542 million shares during the month, ahead of Ethereum’s 318 million. Bitcoin remained the platform’s largest market by fees, with an estimated $60.4 million. The growth in short-duration gold trading came alongside a broader expansion in Kalshi’s commodities business. The company said in September that commodities volume reached $400 million over seven months, more than four times the volume produced by its crypto markets over the same stretch. Kalshi said its crypto markets had shown how a new category on the platform could grow from tens of millions of dollars in scale to monthly trading volume in the billions. Separate analysis from InGame indicated that short-duration financial markets are taking up a larger share of the business. In the seven days through Oct. 5, 15-minute crypto, commodities and financial markets generated $20.4 million in fees, accounting for 80% of Kalshi’s non-sports fees during that period.

Prediction market platform Kalshi’s 15-minute gold contracts, which launched in August, generated an estimated $5 million in fees in September, according to a ChainCatcher report. That was close to twice the roughly $2.6 million produced by Ethereum contracts over the same period.

Data from Predict Charts showed the gold contracts traded 542 million shares during the month, exceeding Ethereum’s 318 million. Bitcoin remained Kalshi’s main market, with estimated fees reaching $60.4 million.

Gold growth tracked a broader push in commodities

The rise of the short-duration gold market came as Kalshi’s commodities business expanded overall. The company said in September that commodities trading volume reached $400 million over seven months, more than four times the volume generated by its crypto markets in the same period.

Kalshi said its crypto markets showed the potential for a new category on the platform to grow from tens of millions of dollars in scale to monthly trading volume in the billions.

Short-duration contracts are taking a larger share

Data showed that after 15-minute Bitcoin contracts went live in December 2025, they became Kalshi’s largest market series outside parlays in July. Meanwhile, 15-minute Ethereum contracts rose from 6.1 million shares to 233 million shares between January and July 2026.

Short-duration financial markets are making up a larger portion of Kalshi’s business. Analysis published by InGame showed that in the seven days through Oct. 5, 15-minute crypto, commodities and financial markets generated $20.4 million in fees, equal to 80% of the platform’s non-sports fees in that span.

The same analysis found that short-duration markets accounted for 13% of Kalshi’s trading volume but 20% of its fees.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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