The Commodity Markets Council, which includes CME Group, NYMEX and ICE Futures US, has asked the Commodity Futures Trading Commission to reject Kalshi’s proposed perpetual WTI crude oil contract. Filed on October 20, 2026 under the ticker WTIPERP, the product faces a review period of at least 45 days, which could be extended to 90 days. The council argues that the contract threatens market integrity, while Kalshi launched a WTI futures contract earlier that month that trades 24 hours a day, expires in ten years and reportedly generates daily volume of around $57 million, with leverage of up to 5.9x. It also asked the CFTC to coordinate with foreign regulators to restrict US retail traders from accessing offshore platforms through virtual private networks. Approval could expand access to more complex oil derivatives but might also fragment liquidity and increase volatility.
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