Pyth Network to determine outcomes in Kalshi’s commodities expansion
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The prediction platform will use Pyth’s pricing data to settle trades on its new commodities markets, as it expands into assets like oil, gold and crops.
Oracle network Pyth Network has been selected as the resolution data source for Kalshi’s expansion into commodities markets, underscoring the growing focus on reliable pricing infrastructure in event-based trading.
Kalshi said on Wednesday that Pyth will supply real-time pricing data for its newly launched commodities hub, which debuted in April. The data will be used to determine how event contracts tied to commodity prices are settled.
The move reflects a broader push among prediction market platforms to strengthen backend infrastructure as they expand into more complex asset classes. Accurate, tamper-resistant data feeds are critical for ensuring fair and transparent contract resolution, particularly in markets tied to real-world financial benchmarks.
Kalshi’s commodities hub allows users to trade event contracts linked to physical assets, including gold, silver, oil, copper and key agricultural products. Pyth’s price feeds will serve as the source of truth for determining contract outcomes.
Pyth has also been selected by rival prediction market Polymarket to provide price feeds for equities and commodities.
Pyth Network is a decentralized oracle that delivers real-time market data to blockchain applications. As Cointelegraph recently reported, Pyth has also recently deployed infrastructure that enables institutions to publish and monetize proprietary data across multiple networks.
Related: Kalshi mulls crypto expansion with perpetual futures launch: Report
Kalshi is rolling out these changes as it seeks to bring more structure to the fast-growing prediction market sector. The company is regulated by the US Commodity Futures Trading Commission as a designated contract market, meaning it is approved to offer trading in derivatives contracts under federal oversight, similar to a traditional exchange.
State regulators have pushed back on Kalshi and other prediction platforms, arguing that some contracts resemble unlicensed gambling or fall outside existing derivatives rules.
However, the US Department of Justice and the CFTC recently asked a federal court to block Arizona from enforcing state gambling laws against Kalshi’s contracts, signaling support for federal jurisdiction in this area.
The dispute comes as prediction market activity has grown sharply over the past two years, drawing in new entrants from both traditional finance and the crypto sector.
Related: After Kalshi appeal, prediction markets fight could head to US Supreme Court
Source: CoinTelegraph
