Kalshi’s 15-min gold markets overtake Ether just weeks after launch
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Kalshi's newly launched 15-minute gold markets generated about $5 million in estimated trading fees in September, nearly doubling the $2.6 million fees from equivalent Ether markets. These gold contracts went live in August and allowed traders to speculate on gold price movements over short intervals. Despite this growth, Bitcoin markets remained dominant, generating $60.4 million in fees during the same month.
Why it matters
The rise of Kalshi's short-duration gold contracts highlights an expanding interest in granular, short-interval trading across commodities on the platform. Kalshi noted that commodities trading volume had reached $400 million within seven months, surpassing crypto markets by more than four times at the same stage. The source suggests this could indicate potential for new market categories on Kalshi to scale significantly.
Key context
Kalshi launched 15-minute Bitcoin markets in December and saw them become its largest market series outside parlays by July. Short-duration Ether contracts also grew rapidly, from 6.1 million contracts in January to 318 million in September. Short-duration markets now generate a disproportionate share of fees (20%) relative to their volume (13%) due to the platform's fee structure, which charges higher fees for contracts priced near even odds.
Key numbers and entities
Kalshi generated $5 million in fees from 15-minute gold markets and $2.6 million from Ether markets in September. Bitcoin markets earned $60.4 million in estimated fees. In September, commodities volume on Kalshi reached $400 million, more than quadruple the comparable crypto volume. In September, 15-minute gold contracts traded 542 million times, while Ether contracts traded 318 million times. The source includes data from Predict Charts and analysis by InGame journalist Daniel O’Boyle.
What remains unclear
The source does not detail the exact mechanisms behind the fee calculations beyond mentioning odds-based pricing. It does not specify how many users or traders are participating in these markets or how these trading volumes compare to traditional gold or crypto trading venues. Information on the platform's future plans or the sustainability of this short-duration market growth is also absent.