Kalshi, a prediction market operator, has filed an application with the U.S. Commodity Futures Trading Commission to list a copper perpetual contract called COPPERPERP. The product would track the U.S. dollar spot price of copper and use price data from blockchain market data provider Pyth Network. The contract would be cash settled, with no physical copper delivery involved. Periodic payments between long and short traders are designed to keep the contract price aligned with the underlying copper price. Unlike traditional futures, the perpetual contract would have no expiration date, allowing traders to keep positions open without rolling into a new contract. Kalshi had previously received approval in May to offer Bitcoin perpetual contracts and has also filed for stock index perpetual contracts. The copper filing came less than a week after a judge in Washington state ordered the company to stop offering sports, election, political, and other event-related betting products in the state.
Prediction market operator Kalshi has filed an application with the U.S. Commodity Futures Trading Commission (CFTC) to launch a copper perpetual contract named COPPERPERP.
The proposed contract would track the U.S. dollar-denominated spot price of copper and use pricing data from blockchain market data provider Pyth Network. It would be cash settled rather than physically delivered. Periodic payments between long and short traders are intended to keep the contract price in line with copper prices.
Perpetual contracts do not expire, which allows traders to maintain positions without rolling them into a new contract.
Kalshi previously won approval in May to offer Bitcoin perpetual contracts and has also filed an application for stock index perpetual contracts.
The copper perpetual filing came less than a week after a judge in Washington state ordered the company to stop offering sports, election, political, and other event-related betting in the state.
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