Kalshi files with CFTC to launch copper perpetual futures contract

Published Aug 19, 07:16 PM UTC

Prediction market operator Kalshi has filed with the Commodity Futures Trading Commission (CFTC) to launch perpetual futures tied to copper prices. The proposed COPPERPERP contract, filed on August 18, would track the spot price of copper in U.S. dollars per pound using a price feed from Pyth Network, a blockchain-based market data provider. Perpetual futures have no expiration date, allowing traders to keep positions open indefinitely. The contract would be cash-settled, with periodic payments between long and short traders to maintain price alignment. This move pushes Kalshi further beyond event-based prediction markets, following a Washington judge's order to stop offering wagers on sports and politics in the state. The filing comes after the CFTC approved Kalshi to offer Bitcoin perpetual futures in May. Copper is a critical industrial metal used in power grids, construction, electric vehicles, and AI data center infrastructure.