Kalshi seeks CFTC approval for WTI crude perpetual futures: Report

Prediction market operator Kalshi will reportedly seek regulatory approval for a West Texas Intermediate (WTI) crude oil perpetual futures contract that never expires.

The contract could be filed with the Commodity Futures Trading Commission (CFTC) as soon as next week, a person familiar with the matter told Bloomberg. It would trade 24 hours a day, five days a week, according to Reuters.

If approved, it would be the first oil-linked perpetual futures product to trade on a regulated US platform.

Cointelegraph has approached Kalshi for comment.

Perpetual futures, commonly called “perps,” are derivatives without expiration dates, allowing traders to maintain positions indefinitely without rolling them into new contracts.

In June, 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, including crude oil.

In July, the regulator halted the self-certified listing of a CME Group contract that would have introduced 24/7 crude oil futures trading while it examined whether the product complied with federal commodities law.

On Aug. 24, Ondo Finance submitted three comment letters to the SEC and CFTC urging US regulators to bring perpetual futures tied to individual stocks onshore. Ondo argued that these products could operate under the country’s existing security futures framework without new rules.