Kalshi Seeks CFTC Approval for WTI Perpetual Futures Contract

Kalshi, a prediction-market platform, is seeking CFTC approval for its proposed WTI crude oil perpetual futures contract. This product would allow traders to hold positions indefinitely without an expiration date and trade 24 hours a day, five days a week.

The reported filing comes as the CFTC reviews comments on extending standard futures contracts to 24/7 trading and permitting perpetual contracts tied to physically delivered or storable energy commodities. This effort has already produced friction, with the regulator halting the self-certified listing of a CME Group contract intended to introduce 24/7 crude oil futures trading.

Kalshi's proposal would support near-continuous trading and potentially widen the set of instruments available to US traders while testing the regulator's willingness to treat perps as compatible with current statutory frameworks. The company is also dealing with questions about jurisdiction and enforcement, having faced a preliminary injunction in Michigan and conflicting decisions from federal appeals courts.