Update
Commodity Markets Council Asks CFTC to Reject Kalshi’s Perpetual Oil Futures Contract
The Commodity Markets Council (CMC) has sent a letter to the US Commodity Futures Trading Commission (CFTC) requesting that the regulator reject Kalshi’s proposed perpetual WTI crude oil futures contract. The CMC argues that the product poses risks to market integrity and wants the CFTC to withhold approval. Kalshi, a regulated prediction market platform, filed for the contract on October 20, 2026, with the product carrying the ticker WTIPERP. The CFTC has at least 45 days to make a decision on the filing, which could be extended to 90 days due to the contract’s unusual structure. The CMC’s membership includes major commodity exchanges and commercial hedgers, indicating their preference for maintaining the current setup for oil derivatives.