Kalshi applied to launch a copper perpetual contract using Pyth Network price data and no expiration date

Comparing news, it is predicted that market operator Kalshi will submit an application to the US Commodity Futures Trading Commission (CFTC) to launch a copper perpetual contract COPPERPERP. The contract will track the spot price of copper in dollars and use price data from blockchain market data provider Pyth Network.

The contract is settled in cash and does not involve physical copper delivery; regular payments between long and short traders will help keep the contract price in line with the copper price. Perpetual contracts have no expiration date, and traders can continue to hold positions without moving to a new contract. Kalshi was previously approved to offer a Bitcoin perpetual contract in May and submitted an application for a stock index perpetual contract. Less than a week before the copper perpetual contract application was submitted, a Washington state judge asked the company to stop providing local bets on sports, elections, politics, and other events.