Commodity Markets Council urges CFTC to block Kalshi’s perpetual oil futures contract

The trade group, whose members include CME Group, wants regulators to withhold approval and close a retail access loophole Kalshi wants to let traders bet on crude oil forever. The old guard of commodity trading would prefer that it didn’t. The Commodity Markets Council (CMC) has sent a letter to the US Commodity Futures Trading Commission (CFTC) asking it to reject Kalshi’s proposed perpetual WTI crude oil futures contract. The group argues the product poses risks to market integrity, and it wants the regulator to withhold approval. The letter went out around October 22, 2026.