Kalshi Expands Beyond Prediction Markets with Copper Perpetual Futures

A prediction market operator moving into a commodity perpetual is a regulatory story before it is a product story: the same CFTC that oversees event contracts would now be asked to bless a leveraged, continuously-settled instrument. That matters for how the agency draws the line between event risk and traditional derivatives, and it puts Kalshi in direct conversation with venues already serving metals traders. Whether the CFTC treats this as a natural extension of its existing oversight or as a category shift is the open question.