Prediction market Kalshi, regulated by the Commodity Futures Trading Commission, has integrated Pyth Network as the data source for its new commodities hub, which covers 8 physical markets including gold, silver, and Brent crude oil.
"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, a contributor to the Pyth Network.
The integration will use Pyth’s price feeds to resolve event contracts for the eight initial commodities. The move addresses a key challenge for prediction markets, which trade 24/7 and can face resolution mismatches when relying on traditional exchanges that close overnight and on weekends. The deal follows a similar integration by rival prediction market Polymarket, which also tapped Pyth in April.
By securing a second major prediction market, Pyth is solidifying its role as a key infrastructure provider for a growing class of regulated, crypto-adjacent financial products. While Chainlink still dominates the oracle market with roughly 64% of total value secured, according to data from DefiLlama, Pyth's recent wins show its growing traction in a sector attracting significant institutional interest.
Pyth Network, a decentralized oracle, sources its data from over 125 first-party providers, including trading firms like Jump Trading and Jane Street, as well as traditional exchanges like Cboe. This allows it to provide price updates every few hundred milliseconds, a critical feature for resolving contracts tied to volatile assets.
Kalshi’s decision reflects a broader push by prediction platforms to strengthen their backend infrastructure as they expand into more complex asset classes. For markets like oil and gold, which can react sharply to geopolitical events on weekends, access to a continuous, tamper-resistant price feed is essential for fair contract settlement.
This article is for informational purposes only and does not constitute investment advice.
