Kalshi Seeks CFTC Approval for Oil Perpetual Futures Contract

Kalshi, a prediction-market operator, is reportedly seeking approval from the US Commodity Futures Trading Commission (CFTC) to launch a West Texas Intermediate (WTI) crude oil perpetual futures contract. This contract would have no expiration date and allow traders to hold positions indefinitely without repeatedly rolling exposure into new contracts.

The filing could be made as soon as next week, according to Bloomberg, with Reuters adding that trading would run 24 hours a day, five days a week. If approved, this would represent the first oil-linked perpetual futures offering to trade on a regulated US venue.

Kalshi's reported plan to attach the perpetual format to a benchmark like WTI is notable not just for novelty, but for what it implies about regulatory comfort with perpetual mechanics in traditional commodities. The approval would mark an important test case for how the CFTC handles perpetual structures in markets traditionally built around fixed expiration dates.