Kalshi, a prediction markets platform, plans to grow beyond cryptocurrencies by offering perpetual futures tied to gold, foreign exchange, and energy markets. This could increase competition with Robinhood. Reuters reports that Kalshi is in advanced talks with regulators to get approval for these products, which might later include stock indices and individual stocks.
Kalshi is already in the crypto perpetual futures market and is one of the first regulated U.S. platforms to offer this product. Perpetual futures are different from traditional futures because they do not expire, so traders can keep their positions as long as they want without needing to renew contracts.
Chief Risk Officer Udesh Jha said that customer demand is guiding Kalshi’s expansion. He pointed out that gold is a top choice because it attracts both retail and institutional investors. He also mentioned that foreign exchange, metals, and energy markets are appealing due to global events and seasonal trends.
Kalshi’s crypto perpetual futures have already reached about $16.1 billion in trading volume. This success is motivating the company to expand its regulated derivatives business into more traditional assets.
This approach puts Kalshi in direct competition with Robinhood, which recently launched multi-asset perpetual futures through Bitstamp. This lets eligible users trade cryptocurrencies, commodities, equity indices, and foreign exchange with one pool of collateral. Robinhood is also said to be working on bringing perpetual futures to the U.S., pending regulatory approval.
If both companies get the needed regulatory approvals, competition in the regulated perpetual futures market will likely heat up as investors look for platforms that offer a wider range of assets.
KALSHI IN TALKS TO EXPAND PERPETUAL FUTURES BEYOND CRYPTO
– Wants to expand to metals, foreign exchange, energy, & more
– Talks with regulators “at an advanced stage”
– Volumes at $16.1B for perps since launch
– $HOOD likely to roll out perps in U.S. once approvedSOURCE:… pic.twitter.com/YeHbeg4Kch
— Hood House (@hood__house) July 9, 2026
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