Kalshi applies to CFTC to launch copper perpetual contract, using Pyth Network data

According to Decrypt, prediction market operator Kalshi submitted an application to the US Commodity Futures Trading Commission (CFTC) on August 18th to launch copper perpetual contract COPPERP using Pyth Network price data. This contract is denominated in US dollars, settled in cash, has no expiration date, and maintains price consistency through regular payments by long and short traders. Kalshi was approved to provide Bitcoin perpetual contracts in May and submitted an application for stock index perpetual contracts. A judge in Washington state ordered Kalshi to stop providing sports, election, political, and other event related bets in the area a week before the application was submitted.