Kalshi Gold Contracts Top Ether in September

Kalshi’s 15-minute gold contracts recorded more trading activity and estimated fees than comparable Ether contracts in September, just weeks after the company introduced the gold markets. Predict Charts data put gold at 542 million contracts and about $5 million in estimated fees, compared with Ether’s 318 million contracts and $2.6 million in fees. The figures show a rapid start for the gold product, but Bitcoin remained far ahead by estimated fees. Predict Charts put Bitcoin’s September total at $60.4 million, more than 12 times the estimated fees for gold. The estimates are derived from Kalshi trading records and are not company-reported revenue. Kalshi introduced its 15-minute gold markets in August. The contracts let traders take positions on whether gold will rise or fall over a short interval. The September comparison is between those gold contracts and Kalshi’s separate 15-minute Ether event contracts, not its Ether perpetual-futures product. The broader short-duration market category also contributed substantial estimated fees in a separate, shorter reporting period. InGame estimated that 15-minute crypto, commodity and financial markets generated $20.