Kalshi Seeks CFTC Approval for WTI Crude Perpetual Futures Contract
Kalshi, a prediction market operator, is set to seek regulatory approval for a West Texas Intermediate (WTI) crude oil perpetual futures contract. This would be the first oil-linked perpetual futures product to trade on a regulated US platform.
The contract would allow traders to maintain positions indefinitely without rolling them into new contracts, as it would never expire. It could be filed with the Commodity Futures Trading Commission (CFTC) as soon as next week, according to a person familiar with the matter.
If approved, Kalshi's WTI crude perpetual futures contract would trade 24 hours a day, five days a week. This development comes after the CFTC sought public comments on extending standard futures contracts to 24/7 trading and allowing perpetual contracts linked to physically delivered or storable energy commodities.
Kalshi's push into oil derivatives also comes amidst a separate jurisdictional dispute over its prediction-market business. A Michigan state court issued a preliminary injunction barring Kalshi from offering sports-related event contracts in the state, while New Jersey has asked the US Supreme Court to resolve the jurisdictional dispute.