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Prediction marketplace Kalshi has tapped blockchain oracle provider Pyth Network to deliver pricing information for its Commodities Hub, which went live in April 2026. The partnership designates Pyth as the authoritative data source for settling event-based contracts linked to commodity valuations.
Kalshi, described as the first CFTC-regulated prediction market exchange in the US, has selected Pyth Pro as the exclusive data layer for its commodities markets. The Commodities Hub enables participants to trade yes-or-no contracts on assets including gold, silver, crude oil, copper, lithium, and soybeans, with market participants predicting whether each commodity will close above or below a predetermined price threshold.
Pyth aggregates live pricing information from a network exceeding 125 financial institutions, including trading venues and professional market makers. The data stream is designed to run continuously without interruption.
Kalshi’s crypto division head, John Wang, said the platform needed rapid, institutional-quality data streams to support its expanding commodity market portfolio. Wang added that Pyth’s infrastructure is intended to serve both individual traders and institutional clients.
Douro Labs CEO Mike Cahill, Pyth’s research and development entity, said commodity valuations respond constantly to global political developments. Cahill emphasized that market participants require ongoing price transparency, particularly during hours when conventional exchanges are closed.
Established commodity trading venues such as the Chicago Mercantile Exchange operate on weekday-only schedules. Kalshi and other prediction and cryptocurrency-based services are positioned to bridge this accessibility gap by offering uninterrupted market availability.
Competing platform Polymarket revealed its own Pyth Network integration for commodity-based markets in early April. Polymarket also uses Chainlink for oracle services.
Both platforms are competing for market dominance through data partnerships and company valuation targets. Kalshi secured a $22 billion valuation during its March funding round, while Polymarket is seeking investment at a $15 billion company valuation.
Kalshi’s highest-volume oil market, which processes approximately $4 million in trading activity, relies on Intercontinental Exchange (ICE) data for contract settlement rather than Pyth.
Pyth Network has also rolled out capabilities that allow financial institutions to publish and commercialize proprietary data feeds across multiple blockchain ecosystems.
Kalshi operates under oversight from the US Commodity Futures Trading Commission as a designated contract market, a status that provides federal authorization for derivatives market operations.
State-level authorities have challenged certain activities, arguing that some prediction market offerings resemble unauthorized wagering. The US Department of Justice and the CFTC recently petitioned a federal court to prevent Arizona from enforcing state gambling regulations against Kalshi.
In Congress, Senators Adam Schiff and John Curtis have proposed the “Prediction Markets Are Gambling Act,” aimed at sports-related betting on prediction platforms, which the article describes as the sector’s fastest-growing category.
Internationally, Argentina is pursuing initiatives to completely prohibit access to prediction market platforms.
After Kalshi’s partnership announcement, Pyth Network’s PYTH token rose more than 6% to 0.048 USD.
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