Kalshi Selects Pyth for New Commodities Hub Markets

TLDR

• Kalshi has selected Pyth Network as the official data provider for its new Commodities Hub.
• The Commodities Hub offers binary markets tied to gold, oil, lithium, and soybeans.
• Pyth will act as the resolution source by supplying real-time institutional price feeds.
• Kalshi’s most liquid oil contract uses ICE data to verify market outcomes.
• Polymarket has also integrated Pyth for its own commodities prediction markets.

Kalshi has selected Pyth Network as the data provider for its newly launched Commodities Hub. The platform now offers event markets tied to gold, oil, lithium, and other commodities prices. The exchange confirmed that Pyth will serve as the official resolution source for these contracts.

Kalshi Expands Commodities Markets With Pyth Integration

Kalshi introduced its Commodities Hub with dozens of live contracts linked to major raw materials. Traders can choose binary options based on whether prices move above or below set targets. The markets include Brent crude oil, gold, lithium, and soybeans.

Pyth will supply real-time pricing data and act as the resolution authority for these contracts. Kalshi Head of Crypto John Wang said, “It’s important that Kalshi’s markets are backed by fast, institutional-grade data.” He added that Pyth’s feeds are granular and easy to consume for retail and institutional participants.

Pyth aggregates price data from over 125 institutions, including exchanges and market makers. The network distributes real-time feeds designed for 24/7 availability across asset classes. The firm also operates a live interface known as Pyth Terminal.

Douro Labs CEO Mike Cahill addressed the integration in a statement. He said, “Market participants need price discovery that doesn’t stop when traditional exchanges close.” He linked that demand to constant geopolitical developments affecting commodity pricing.

Kalshi confirmed that ICE data will verify outcomes for its most liquid oil market. That contract has generated about $4 million in trading volume so far. The exchange continues to expand listings within the Commodities Hub.

Prediction Market Competition and Regulatory Scrutiny

Kalshi and Polymarket continue to compete for market share and valuation growth. Polymarket recently integrated Pyth for its own commodities markets. The onchain platform also uses Chainlink as an oracle provider.

Kalshi reached a $22 billion valuation in March, according to recent disclosures. Polymarket is currently raising capital at a $15 billion valuation. Both firms seek broader user adoption and new data partnerships.

The Commodity Futures Trading Commission has reiterated that prediction markets fall under federal oversight. However, several state regulators argue that certain contracts violate local gambling laws. Lawmakers Adam Schiff and John Curtis introduced the “Prediction Markets Are Gambling Act” to address sports-related contracts.

Some countries have taken action against prediction platforms. Argentina has moved to restrict access to certain services. Regulators continue to review the classification of these markets.

The Pyth Network’s native PYTH token rose over 6% to $0.048 on Wednesday. Bitcoin gained more than 4% and returned to $79,000 during the same session. Crypto markets showed broader gains alongside these moves.

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