Prediction market platform Kalshi is gearing up to file an application with the US Commodity Futures Trading Commission (CFTC) to launch a perpetual futures contract tied to West Texas Intermediate (WTI) crude oil. If the regulator gives it the green light, this would be the first-ever perpetual oil futures contract available on a regulated US exchange.

What Happened

Kalshi is drafting a proposal for the CFTC to introduce a perpetual WTI oil contract—a derivative without a set expiration date that tracks the price of the WTI benchmark. Unlike traditional futures, this contract would let traders hold positions indefinitely as long as margin requirements are met.

Why It Matters

Bringing a perpetual oil contract to a regulated US platform could open up new ways for traders and institutions to hedge or speculate in the energy markets. If approved, it would be the first of its kind in the US, setting Kalshi apart from the usual expiring futures contracts and potentially drawing in both traditional and crypto-native market participants.

What’s Next

Everything now hinges on the CFTC’s decision. There’s no timeline yet for review or a potential launch. Until Kalshi gets the official go-ahead, trading on the new product is off the table.