Kalshi Files for Approval of Perpetual Oil Futures Contract
Kalshi is set to file with the Commodity Futures Trading Commission (CFTC) for approval of a perpetual futures contract linked to West Texas Intermediate (WTI) crude oil. This initiative aims to establish the first regulated perpetual oil futures product in the United States, with the filing expected during the week of September 8, 2026.
The proposed WTI perpetual futures contract would allow for trading five days a week, providing participants with continuous access to oil price exposure without the need to roll over expiring contracts. Traditional oil futures, such as those on the CME Group’s NYMEX, require traders to close and open contracts monthly, which can incur additional costs and complexity. In contrast, perpetual futures would eliminate this friction by using a funding rate mechanism to align prices with the underlying spot market.
Kalshi's chief risk officer, Udesh Jha, indicated that discussions with regulators regarding the expansion of perpetual contracts into energy commodities are at an advanced stage. The CFTC has recently engaged in public discussions about perpetual contracts for storable energy commodities, with a comment period that concluded on August 26, 2026. Kalshi's proposal will be assessed under the CFTC's Regulation 40.3 process, which evaluates contracts individually rather than providing blanket approvals.
The CME Group, which currently leads the US oil futures market, has expressed opposition to the CFTC's approach to perpetual contracts and has initiated legal challenges against approvals granted for crypto perpetual products.
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Source: KLEA News