CFTC-regulated speculation market Kalshi is wiring Pyth’s oracle and Pyth Pro feed into its new commodity hub, using the first company’s prices to settle gold, oil, gas, and grain event contracts.
Summary
- CFTC-regulated speculation market Kalshi has chosen Pyth as the contract settlement data source for its new commodity facility.
- Integrations include gold, silver, Brent crude, natural gas, copper, corn, soybeans, and wheat, and Pyth Pro provides direct market data to Kalshi market makers.
- Pyth and Kalshi plan this initiative as an infrastructure for placing event contracts on all assets today, as well as indices, stocks, and FX next.
Pyth Network is expanding its footprint within regulated predictive markets, becoming a provider of settlement data for the newly launched Kalshi commodity hub.
Kalshi, which operates as an event exchange regulated by the CFTC in the US, said it has incorporated Pyth as a reference price source for commodity-linked contracts including gold, silver, Brent crude oil, natural gas, copper, corn, soybeans, and wheat.
In the announcement, Kalshi said that Pyth “will pay the electricity prices in our commodity center,” adding that the merger is intended to “support continuous trading and reliable settlement” of its event contracts in line with the underlying commodity standards.
The platform’s new commodity hub expands the existing oil and precious metals markets into a wider area that now includes agricultural products and base metals, offering traders yes/no contracts on questions like whether crude oil or wheat will breach certain price limits within a certain time window.
Pyth, on the other hand, uses a contract to advance to enterprise-level data services. Alongside the public oracle feed, the Pyth Pro project product will provide direct market data access to Kalshi market makers, who need low latency rates to quote stable markets and manage risk in fast-moving assets.
According to Pyth contributors, Pyth Pro is designed as a subscription layer that delivers “institutional-level market data across cryptocurrencies, equities, fixed income, commodities, and foreign exchange,” built on first-party value offerings from exchanges and market makers.
The Kalshi integration will start with commodities but is expected to expand that model to additional asset classes, with Pyth saying it plans to expand coverage to indices, single-name stocks, and FX pairs used in future Kalshi contracts.
The partnership also strengthens the feedback loop between TradFi-style event contracts and on-chain infrastructure.
Pyth bills itself as “the largest first-party financial data protocol,” with over 2,000 real-time feeds including digital assets, equities, ETFs, FX, and commodities; Kalshi, as the “leading CFTC-regulated event exchange,” now becomes a buyer of that data for settlement and a producer of event probability data that can itself be distributed on-chain.
