On Tuesday, Kalshi submitted an application to the U.S. Commodity Futures Trading Commission (CFTC) seeking approval to list perpetual futures contracts for precious metals.

The application document stated: "Perpetual futures have now become a mainstream category of derivatives and a core vehicle for price discovery in related markets. However, for a long time, this type of trading has almost entirely taken place on unregulated overseas trading venues."

Bloomberg was the first to report that the silver, gold, and platinum perpetual contracts would operate on a 24/5 basis, meaning trading would be open 24 hours a day, five days a week.

This prediction market platform had already launched cryptocurrency perpetual futures at the end of May. Unlike event-based contracts, perpetual futures do not have an expiration date.