CME backed industry group urges CFTC to block Kalshi oil futures plan

A group representing major US commodity exchanges has urged the Commodity Futures Trading Commission to reject Kalshi's proposed oil perpetual futures contract over concerns about market integrity. Commodity exchanges including CME Group have urged the CFTC to reject Kalshi's proposed oil perpetual futures contract over market integrity concerns. Kalshi's proposed contract would allow traders to maintain exposure to WTI crude oil prices without a fixed expiration date. The Commodity Markets Council has asked US regulators to restrict retail access to offshore derivatives platforms through VPNs.