- Gold 15-minute contracts on Kalshi generated $5 million in estimated fees in September, nearly double Ether’s $2.6 million.
- Bitcoin remained the dominant market with $60.4 million in fees, while commodities volume hit $400 million in seven months.
- Short-duration markets accounted for 80% of Kalshi’s non-sport fees in early October, with 13% of volume generating 20% of fees.
- Gold recorded 542 million contracts in September, overtaking Ether’s 318 million despite Ether’s rapid growth earlier in 2026.
Kalshi’s 15-minute gold markets generated about $5 million in estimated fees in September, nearly double the $2.6 million from equivalent Ether contracts just weeks after their August launch, according to Predict Charts. Bitcoin dominated the category with $60.4 million in estimated fees that month.
The growth in short-duration gold markets comes as Kalshi’s broader commodities business expanded rapidly. The company said in September that commodities trading volume reached $400 million within seven months, more than four times the volume its crypto markets had generated at the same stage.
“Crypto markets demonstrated the potential for new categories on Kalshi to scale from tens of millions to billions in monthly volume,” the company stated. Meanwhile, gold’s 15-minute contracts recorded 542 million contracts traded in September, overtaking Ether’s 318 million despite Ether’s rapid growth from 6.1 million contracts in January to 233 million by July.
Short-duration financial markets are becoming a larger part of Kalshi’s business. An InGame analysis on Tuesday found that 15-minute crypto, commodity and financial markets generated $20.4 million in fees in the seven days through Oct. 5, accounting for 80% of the platform’s non-sport fees.
The analysis also revealed that short-duration markets generate higher fees. “This is because Kalshi uses a fee formula that depends on the odds of a contract — fees are higher as a share of volume on contracts priced at close to 50/50 odds than they would be on the biggest favorites or longshots,” wrote InGame journalist Daniel O’Boyle.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
