Kalshi Seeks U.S. Approval to Launch Perpetual Oil Futures

The 'perpetual futures' that have grown in the digital asset market are set to expand into the traditional oil market. The U.S. prediction market platform Kalshi is seeking regulatory approval to launch perpetual futures linked to West Texas Intermediate (WTI) crude oil. If approved, this will be the first perpetual oil futures traded in the U.S. regulated market. Kalshi plans to apply to the CFTC for the WTI-linked perpetual futures product as early as next week. Perpetual futures are derivatives that allow positions to be maintained without contract expiration, enabling investors to build larger positions than the underlying asset price fluctuations using leverage. Kalshi's application comes amid a 24-hour trading conflict with the CME. While the CFTC has allowed Kalshi to launch perpetual contracts linked to virtual asset prices, the CME's plans for 24-hour trading of existing oil futures have been hindered. If Kalshi's product is approved, it is expected to be a symbolic case of the trading structure in the virtual asset market transitioning to the traditional commodities market. The CFTC's decision could impact not only Kalshi's product but also the trading structure of the U.S. oil derivatives market.

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