Gate News message, April 23 — Prediction market platform Kalshi has selected Pyth, a crypto oracle protocol, as the data provider for its newly launched Commodities Hub, which offers event-based contracts on major commodities including oil, gold, and lithium.
Pyth serves as the data source for these markets, with dozens of active markets already live covering price movements in Brent crude oil, lithium, soybeans, and other commodities. Users can place binary options bets on whether prices will rise or fall across these assets.
Kalshi noted that commodity markets are increasingly driven by round-the-clock geopolitical events, and market participants need price discovery mechanisms even when traditional exchanges are closed.
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