Kalshi Could Push Deeper Into Precious Metals Trading
Speakers
Udesh Jha
— Chief Risk Officer, Kalshi
Summary
Kalshi Chief Risk Officer Udesh Jha explains the firm's plan to launch regulated perpetual futures on gold, silver, and platinum, positioning them as a cheaper, safer alternative to traditional futures. He also notes copper could follow amid AI-driven demand, while defending the product against casino-ification criticism.
- Kalshi is seeking approval for perpetual futures on gold, silver, and platinum.
- Copper perpetuals are under consideration, driven by AI and computing demand.
- Perpetual futures avoid roll costs, track spot closely, and trade 24/5 initially.
- The company targets both retail and institutional investors wanting continuous metals exposure.
- Kalshi's offerings are regulated, with lower leverage than traditional futures and no auto-liquidation.
- The CRO rebuts concerns about market casino-ification by highlighting risk management innovations.
Ideas
Kalshi perpetuals improve metals exposure.
Kalshi's regulated perpetual futures on gold, silver, and platinum offer a superior vehicle for continuous metals exposure because they eliminate roll costs, track spot prices closely via funding adjustments, provide lower leverage (6-8x) than traditional futures (20x), and avoid auto-liquidation through clearing houses, making them more cost-effective and safer for both retail and institutions.
Up Next
This Bloomberg Markets video, published July 27, 2026, features Udesh Jha discussing GLD, SILVER, PPLT. 1 trade idea extracted by AI with direction and confidence scoring.