15-minute gold markets launched on @Kalshi in August.
One month later they were already doing more business than $ETH.
September: 542M gold contracts vs 318M ETH, with estimated fees around $5M vs $2.6M.
The broader 15-minute trend is more revealing.
Over the latest week these short-duration markets were only 13% of Kalshi’s volume but generated 20% of its fees.
Across non-sports markets, they produced 80% of fees.
Gold, $BTC, $ETH… the asset might be secondary to giving people something new to trade every 15 minutes.
Is Kalshi building a prediction market, or slowly discovering a new form of short-duration trading venue?
