Kalshi Gold Contract Count Exceeded Ethereum’s in September

Kalshi’s 15-minute gold market recorded more contracts and higher estimated fees than its Ethereum market in September.

The gold market recorded 542 million contracts and about $5 million in estimated fees. The Ethereum market recorded 318 million contracts and $2.6 million in estimated fees, while the Bitcoin market generated an estimated $60.4 million in fees during the same month.

Kalshi launched the gold contracts in August. Traders use them to wager on whether gold will rise or fall during each 15-minute interval.

Kalshi’s commodities trading volume reached $400 million within seven months of launch, more than four times the volume generated by its crypto markets over the same period.

In the seven days through Oct. 5, crypto, commodities and financial markets generated $20.4 million in fees, accounting for 80% of Kalshi’s non-sports fees. Those markets represented 13% of trading volume and 20% of fees during the period.