Kalshi Taps Pyth Network To Settle Bets On Gold, Oil, Wheat And More
Kalshi has selected Pyth Network as the resolution source for its Commodities Hub, a dedicated section for event contracts tied to gold, silver, Brent crude, natural gas, copper, corn, soybeans and wheat.
Pyth price data will power contract resolutions, and Pyth Pro, the network’s institutional data tier, will provide direct feeds to Kalshi’s market makers, according to a press release.
The Commodities Hub on Kalshi covers event contracts across physical markets.
The Kalshi deal follows Polymarket’s April 2 integration with Pyth to resolve new daily up-or-down and closing-price contracts on major equity indices, commodities, and more than a dozen U.S. stocks. That list includes Tesla Inc , Coinbase Global, Palantir Technologies, Nvidia Corp and Apple Inc.
Don’t Miss:
Both platforms now resolve a growing slate of contracts through the same data layer. Kalshi and Polymarket were reportedly valued at $22 billion and $15 billion respectively as of mid-March.
“Commodities markets are increasingly shaped by around-the-clock geopolitical developments, and market participants need price discovery that doesn’t stop when traditional exchanges close,” said Mike Cahill, CEO of Douro Labs and a contributor to Pyth Network.
Commodity exchanges close at night and on weekends. Prediction markets trade around the clock, which may create resolution mismatches during overnight or weekend geopolitical moves, particularly across oil and gold.
The Strait of Hormuz tensions earlier this year were a live example. Brent crude moved sharply on weekend headlines while ICE Futures Europe was closed, leaving any contract settling on exchange prints exposed to a stale reference.
Trending: Avoid the #1 Investing Mistake: How Your ‘Safe’ Holdings Could Be Costing You Big Time
Pyth aggregates price data from more than 125 institutions, including firms like Jump Trading, Jane Street and Cboe, and pushes updates every few hundred milliseconds.
Chainlink still controls roughly 64% of total value secured across blockchain oracles, with Chronicle at 11% and Pyth and RedStone each under 7%, per DeFiLlama.
Intercontinental Exchange, the parent of the New York Stock Exchange, has committed up to $2 billion to Polymarket in a two-stage deal completed last month, deepening the institutional weight behind platforms Pyth now helps resolve.
