Kalshi seeks CFTC approval for WTI oil perps

Prediction market operator Kalshi is preparing to seek regulatory approval for a perpetual futures contract linked to West Texas Intermediate (WTI) crude oil, a move that could introduce a derivative structure popular in cryptocurrency markets to a major U.S. commodity exchange. The company expects to file its proposal with the Commodity Futures Trading Commission (CFTC) as soon as the week of September 7, 2026. If approved, the contract would be the first oil-linked perpetual futures product to trade on a regulated U.S. platform. Perpetual futures, often called "perps," are derivatives that do not have fixed expiration dates, allowing traders to maintain positions indefinitely without the need to roll over expiring contracts into new ones. This structure aims to eliminate the costs and complexities associated with traditional futures contracts that expire on a monthly cycle. The proposed WTI contract would trade 24 hours a day, five days a week, offering near-continuous access to oil price exposure. This trading schedule represents a compromise between existing commodity trading hours and fully continuous markets.