In September 2026, 15-minute gold markets on Kalshi surpassed their Ether counterparts: gold saw 542 million contracts and around $5 million in fees for the month, compared to 318 million contracts and $2.6 million in fees for Ether. Bitcoin remains the largest market with $60.4 million in fees.

15-minute gold contracts launched in August and grew rapidly

Short-term (15-minute) gold contracts were introduced in August, and by September they had overtaken Ether in both trading volume and generated fees. The growth of short-term commodity markets coincided with Kalshi’s expansion into commodities: over seven months, total commodity trading volume reached $400 million, more than four times the platform’s crypto market volume at a comparable stage. The company noted: “Crypto markets demonstrated the potential for new categories on Kalshi to scale from tens of millions to billions in monthly volume.”

BTC became the largest 15-minute series outside parlays by July

After launching in December, 15-minute Bitcoin markets became the largest series on Kalshi outside parlays by July. Ether’s 15-minute contracts also grew quickly: from 6.1 million contracts in January to 233 million in July 2026, and then to 318 million in September, but gold overtook them with 542 million contracts in a month.

Short-term markets generated 80% of non-sports fees for the week ending October 5

In the seven days ending October 5, 15-minute crypto, commodity, and financial markets generated $20.4 million in fees, accounting for 80% of the platform’s non-sports fees. These markets represented 13% of total trading volume but 20% of fees, reflecting a higher fee load on markets with probabilities close to 50/50.