Update
CFTC Urged to Reject Kalshi Oil Perpetuals
The Commodity Markets Council has urged the CFTC to reject Kalshi's proposed perpetual oil contracts, citing market risks and concerns about competition in energy derivatives. Kalshi, which also offers perpetual contracts linked to Bitcoin, Ethereum, XRP, HYPE, gold, and silver, has expanded into additional financial products. The industry group also called for restrictions on U.S. retail traders using virtual private networks to access offshore derivatives platforms.