Kalshi and Pyth Just Made It Possible to Bet on Oil Prices 24/7 — Here’s How

TLDR

• Kalshi has launched a Commodities Hub and selected Pyth Network as its resolution data source
• The hub covers markets for gold, silver, oil, copper, lithium, soybeans and other commodities
• Pyth aggregates real-time price feeds from over 125 institutions, available 24/7
• Polymarket has also integrated Pyth for its commodities markets
• Kalshi is valued at $22 billion; Pyth’s PYTH token rose over 6% following the news

Prediction market Kalshi has chosen crypto oracle protocol Pyth Network to supply pricing data for its new Commodities Hub, launched in April 2026. Pyth will act as the official resolution source for event contracts tied to commodity prices.

The Commodities Hub lets users trade binary event contracts on assets including gold, silver, oil, copper, lithium, and soybeans. Traders pick whether a commodity will finish above or below a set price target.

Pyth pulls real-time price feeds from over 125 institutions, including exchanges and market makers. The data is available around the clock, seven days a week.

Kalshi’s head of crypto, John Wang, said the platform needed fast, institutional-grade data as it expands its commodities offerings. He added that Pyth’s feeds are designed to work for both retail and institutional participants.

Pyth R&D firm Douro Labs CEO Mike Cahill said commodities markets are shaped by non-stop geopolitical events. He noted that traders need price discovery that continues even when traditional exchanges are closed.

Traditional commodities exchanges like the CME operate only on weekdays. Prediction markets and crypto platforms are filling that gap with continuous access.

Polymarket Also Using Pyth

Rival platform Polymarket announced its own Pyth integration for commodities markets earlier in April. Polymarket also uses Chainlink as an oracle provider.

The two platforms are competing on market share, data partnerships, and valuations. Kalshi was last valued at $22 billion in March. Polymarket is currently raising capital at a $15 billion valuation.

One exception in Kalshi’s data setup: its most liquid oil market, which has around $4 million in volume, uses ICE data for outcome verification rather than Pyth.

Pyth also recently deployed infrastructure letting institutions publish and monetize their own data across multiple blockchain networks.

Regulatory Pressure Builds

Kalshi is regulated by the US Commodity Futures Trading Commission as a designated contract market. That gives it federal approval to offer derivatives trading.

State regulators have pushed back, arguing some prediction market contracts look like unlicensed gambling. The US Department of Justice and the CFTC recently asked a federal court to block Arizona from applying state gambling laws to Kalshi.

US Senators Adam Schiff and John Curtis introduced the “Prediction Markets Are Gambling Act” to target sports betting on prediction platforms, which has become the fastest-growing segment.

Some countries are also moving against prediction markets. Argentina is working to block access to these platforms entirely.

Following the Kalshi news, Pyth’s native PYTH token rose over 6% to $0.048.

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