"$16.1 Billion Futures Performance Explodes"...Kalshi on the Verge of Dominating Gold, Silver, and Foreign Exchange Markets

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Kalshi is expanding its territory into the gold, foreign exchange, and energy markets, leveraging its $16.1 billion perpetual futures trading performance in cryptocurrency. As the derivatives competition with Robinhood is increasingly likely to turn into a head-on collision, the battle for dominance in the US regulated market is heating up.

According to crypto media outlet Coingape on July 9 (local time), Kalshi is in in-depth discussions with regulatory authorities to obtain approval for the launch of perpetual futures (perps) with underlying assets in metals, foreign exchange, and energy markets. In the long term, it is also considering expanding its product range to include broad market indices and individual stocks.

Kalshi has already entered the derivatives business by offering crypto perpetual futures in the US regulated market. The trading volume of crypto perpetual futures recorded approximately $16.1 billion. Unlike regular futures, perpetual futures, which have no expiration date, allow positions to be maintained without replacing contracts with new maturities.

Udesh Jha, Kalshi's Chief Risk Officer, stated that market participant demand determines the priority for product expansion. He cited gold as an attractive asset for both individual and institutional investors, and explained that foreign exchange, metals, and energy are also areas of high interest given geopolitical situations and seasonal market trends.

Kalshi's move is also expected to intensify competition with Robinhood Markets (HOOD). Earlier this month, Robinhood launched multi-asset perpetual futures on Bitstamp, allowing trading of cryptocurrencies, commodities, stock indices, and foreign exchange from a single collateral pool. It is also reportedly pursuing the launch of perpetual futures in the US, subject to regulatory approval.

If both companies secure the necessary regulatory approvals, competition in the US regulated perpetual futures market could become even more fierce. As Kalshi expands its product front beyond cryptocurrencies to gold, foreign exchange, and energy, the competition for dominance in multi-asset derivatives with Robinhood has reached a critical juncture.

[Key Article Summary]

-Kalshi is pursuing expansion into gold, foreign exchange, and energy products after recording approximately $16.1 billion in crypto perpetual futures trading volume.

-Kalshi is discussing perpetual futures expansion approval with regulatory authorities and is also considering market indices and individual stocks in the long term.

-With Robinhood also expanding multi-asset perpetual futures, the possibility of intensified competition between the two companies in the US regulated derivatives market has been raised.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*