CMC Presses CFTC to Keep Kalshi’s Oil Perps Off the Trading Floor

The Commodity Markets Council (CMC), which represents derivative exchanges such as CME Group, has asked the Commodity Futures Trading Commission (CFTC) to deny Kalshi’s request to offer perpetual crude oil contracts, arguing that the products pose risks to market integrity.

According to Bloomberg, the move follows Kalshi’s filing earlier this week seeking CFTC approval to offer WTI perpetuals. CMC also asked the regulator to block a loophole that gives retail traders access to offshore derivatives platforms.

Kalshi already offers WTI futures that trade on weekdays, which it launched earlier this month. The prediction markets platform also launched its US 500 perpetual futures contract earlier this month.

If approved, the WTI perpetuals proposal would add to Kalshi’s growing list of perpetual contracts.