Key Highlights
- Kalshi has partnered with Pyth Network to enable continuous 24/7 contract settlement.
- The integration supports Kalshi’s Commodities Hub, covering commodities such as gold, oil, and agriculture.
- The partnership includes real-time pricing data and Pyth Pro access for liquidity providers.
Prediction market platform Kalshi has collaborated with Pyth Network to enable uninterrupted 24/7 settlement of contracts tied to global commodities markets, reflecting a shift away from event-based trading.
In an announcement shared on X Pyth Network stated, “Kalshi, the first CFTC-regulated prediction market exchange in the US, has selected Pyth Pro as the exclusive data layer for its commodities markets.”
The integration supports Kalshi’s new “Commodities Hub,” which focuses on event-based contracts linked to major commodity markets, including gold, silver, Brent crude oil, natural gas, copper, corn, soybeans, and wheat. These contracts settle based on price data provided by Pyth.
What Pyth Network provides
As part of this collaboration, Pyth will provide ongoing pricing streams for contract resolution, and its premium data product, Pyth Pro, will give liquidity providers direct access to market data in these markets. The idea here is that retail and institutional traders alike should be able to depend upon steady price inputs in order to participate in these markets.
The problem in connecting commodity markets with prediction markets is that there will be discrepancies regarding trading time. The traditional commodity market has set hours where the market might shut down at night or on weekends. Prediction markets, on the other hand, are open 24/7, necessitating a feed that works nonstop.
This is one aspect that Pyth’s data model tries to solve by gathering prices from trading firms operating in the actual markets. Kalshi’s initial offering comprises several commodity assets—gold, silver, Brent crude oil, natural gas, copper, corn, soybeans, and wheat. Other asset classes may join in the future.
According to Mike Cahill, CEO of Douro Labs as well as one of the contributors to Pyth Network, the global commodity market has been increasingly shaped by geopolitical events happening outside of regular trade periods. According to him, price discovery is becoming an ever-growing factor in trading.
Regulatory backdrop
In a related development, the United States Court of Appeals for the Third Circuit ruled earlier in April 2026 that the Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction of event contracts offered by Kalshi.
The court upheld a preliminary injunction preventing New Jersey from enforcing state-level gambling laws against the platform. The case, KalshiEx LLC v. Flaherty et al., stems from a dispute over whether certain event contracts should be classified as betting.
Growing demand for continuous data streams
The partnership reflects a broader trend in financial markets toward continuous, always-on systems. As the lines between traditional finance and newer market structures continue to blur, demand for real-time data and uninterrupted pricing has increased.
At the same time, the expansion of prediction markets into commodities raises questions about regulation, market integrity, and their role in price discovery. These markets can provide insights into price expectations, but their reliability depends on the quality and consistency of the underlying data.
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