TL;DR
- Kalshi says monthly commodities trading volume has surpassed $400 million, seven months after launch.
- Commodity volume is more than four times what crypto reached at the same stage on the platform.
- Kalshi has also filed for WTI crude oil perpetual futures, extending its push beyond prediction markets.
Will Kalshi’s WTI perpetual futures be approved by the CFTC before the end of 2026?
Kalshi’s Commodity Trading Business Surpasses $400mn
Kalshi said its commodities trading business has surpassed $400 million in monthly volume, only seven months after launch.
The company said commodity trading volume at this stage is more than four times what cryptocurrency trading had reached over the same period. Its commodity prediction markets currently cover products including oil, natural gas and metals.
Co-founder Tarek Mansour said stronger liquidity has helped drive the growth. A larger pool of active participants makes it easier for users to enter and exit positions and allows Kalshi to launch new categories more quickly.
The company also said its trading volumes from the 2026 FIFA World Cup partnership came in well above its earlier expectations.
Kalshi Files for WTI Perpetual Futures
Kalshi is also expanding into perpetual futures across traditional asset classes. Reuters reported that the company has filed for products tied to equity indexes, metals and WTI crude oil.
WTI already has a large and mature futures market, so Kalshi is not introducing the first WTI derivative. The difference is that a perpetual future has no fixed expiry date, allowing traders to maintain continuous exposure through a single contract.
If approved, Kalshi’s WTI product would be the first perpetual oil futures product on a regulated U.S. platform.
Perpetual futures became popular in crypto but are increasingly being applied to traditional assets. Kalshi’s filings suggest it is trying to bring that structure into the U.S. regulated derivatives market, alongside its existing prediction-market business.
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