Kalshi seeks US approval for WTI crude oil perpetual futures

Kalshi is pushing to bring perpetual futures, the trading instrument that dominates crypto markets, to one of the oldest and most politically sensitive commodities on earth: crude oil. The CFTC-registered exchange is in advanced discussions with regulators to offer US-regulated perpetual futures contracts on West Texas Intermediate crude oil, a move that would mark a significant expansion beyond the crypto-native products that have fueled the platform’s recent growth. From prediction markets to perps powerhouse Kalshi’s journey into perpetual futures started with Bitcoin. The CFTC approved its first perpetual futures contract for Bitcoin on May 29, 2026, and the product went live on June 3. The reception was, to put it mildly, enthusiastic. The exchange’s crypto perps surpassed $1 billion in notional volume within their first week of trading. By early July 2026, that figure had ballooned to $16.1 billion. Perpetual futures are essentially futures contracts that never expire. Unlike traditional futures, which settle on a fixed date and require traders to roll their positions forward, perps let you hold a leveraged position indefinitely. Kalshi’s innovation was bringing them onshore,...