Kalshi and Pyth launch commodities hub for gold, oil, lithium

Kalshi, a U.S.-based trading platform, has partnered with Pyth Network to build a commodities hub that will list cash-settled contracts tied to gold, oil and lithium prices.

The hub will rely on Pyth's real-time price feeds and oracle infrastructure to supply reference pricing for those contracts, enabling continuous pricing and automated settlement based on external benchmark data.

Pyth aggregates high-frequency price information from trading firms and exchanges and distributes feeds to on-chain and off-chain users. Kalshi will use Pyth’s low-latency signals to mark positions and calculate final settlement values for contracts on its platform.

The markets will offer exposure to movements in gold, oil and lithium. Gold contracts track precious metal prices, oil contracts reflect energy supply and demand, and lithium contracts will capture price changes linked to battery production and electric-vehicle supply chains.

The companies did not disclose contract sizes, leverage, the exact benchmarks for settlement, or a public launch date. Kalshi operates under U.S. regulatory oversight and designs products to meet applicable rules for the types of contracts it lists.

Kalshi indicated the arrangement will allow it to reference externally sourced commodity benchmarks without building separate proprietary price infrastructure. The firms plan to use Pyth’s continuous updates for mark-to-market pricing and settlement calculations.

Additional details on contract specifications, margining, eligibility of participants and market opening dates will be provided during the hub rollout.