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. Summary 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. Kalshi is expanding its futures offerings while facing separate legal challenges from US states over its prediction markets. According to Bloomberg, the Commodity Markets Council (CMC), whose members include CME Group and other established derivatives exchanges, has warned the regulator against approving the proposed contract linked to West Texas Intermediate crude oil. The industry group has questioned the risks associated with perpetual futures in commodity markets and wants regulators to prevent US retail traders from accessing offshore derivatives platforms through virtual privat...