{"url":"https://newsforagent.com/news/2026-10-22/kalshi-perpetual-wti-oil-futures-filing","markdown_url":"https://newsforagent.com/news/2026-10-22/kalshi-perpetual-wti-oil-futures-filing.md","title":"Kalshi Files Perpetual WTI Oil Futures Plan With CFTC","headline":"Kalshi Files 100-Barrel Perpetual WTI Crude Futures Plan as CME Challenges CFTC Rules","description":"Kalshi filed a proposal for perpetual WTI crude futures tracking a one-month index, with funding capped at $1 per barrel.","section":"Regulation & Approvals","published_at":"2026-10-22T20:09:01+00:00","modified_at":"2026-10-22T20:09:01+00:00","author":"News Desk","key_takeaways":["Kalshi's proposed perpetual WTI contract represents 100 barrels of crude, compared with 1,000 barrels for a standard NYMEX contract.","The contract would track a constant one-month WTI futures price calculated by Pyth Network, with a funding rate capped at $1 per barrel in either direction.","CME sued the CFTC and Chairman Michael Selig on June 18 over the regulator's May 29 approval of Kalshi's Bitcoin perpetual futures contract."],"companies":[{"name":"Kalshi","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00000b2/kalshi","website":"https://kalshi.com"},{"name":"CME Group","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0000694/cme-group","website":"http://www.cmegroup.com"},{"name":"Nasdaq","is_primary":false,"profile_url":"https://akta.pro/company-profiles/00000si/nasdaq","website":"https://www.nasdaq.com"}],"source":{"publisher":"FinanceFeeds","title":"Kalshi Files No-Expiry Oil Futures Plan as CME Challenges CFTC’s Perpetual Rules","url":"https://financefeeds.com/kalshi-files-no-expiry-oil-futures-plan-as-cme-challenges-cftcs-perpetual-rules/"},"other_sources":[],"tags":["Regulation & Approvals","Kalshi","CME Group","Nasdaq"],"body_markdown":"[Kalshi](https://akta.pro/company-profiles/00000b2/kalshi) filed a proposal for perpetual WTI crude oil futures, trading 100-barrel contracts without rollovers, [FinanceFeeds](https://financefeeds.com/kalshi-files-no-expiry-oil-futures-plan-as-cme-challenges-cftcs-perpetual-rules/) reported on October 22, 2026. The filing brings the CFTC-regulated prediction market exchange into closer competition with [CME Group](https://akta.pro/company-profiles/0000694/cme-group)'s New York Mercantile Exchange, which operates the benchmark WTI futures market.\n\n## How Kalshi's Perpetual WTI Contract Would Work\n\nKalshi's proposed contract would represent 100 barrels of WTI crude, compared with 1,000 barrels for a standard NYMEX contract. It would trade from Sunday evening through Friday afternoon, following the underlying futures market's weekly schedule.\n\nRather than referencing a single expiring delivery month, the contract would track a constant one-month WTI futures price calculated by Pyth Network. The index would continuously interpolate between two NYMEX delivery months, maintaining a consistent maturity without requiring traders to roll their positions.\n\nA daily funding mechanism would transfer payments between long and short holders according to differences between the perpetual contract's price and its reference index. The proposed funding rate is capped at $1 per barrel in either direction. Kalshi has also included provisions allowing negative contract prices, reflecting the risks exposed when WTI futures briefly traded below zero in April 2020, and positions would remain cash-settled with no physical oil delivery obligation.\n\n## CME's Challenge to the CFTC's Perpetual Framework\n\nCME sued the CFTC and Chairman Michael Selig on June 18, seeking to overturn the regulator's May 29 approval of Kalshi's Bitcoin perpetual futures contract. The exchange argues that derivatives without conventional expiration dates should be classified as swaps under the Commodity Exchange Act and Dodd-Frank rather than regulated as futures.\n\nThe CFTC has moved to dismiss the lawsuit, arguing that CME has failed to establish sufficient competitive injury to challenge its decision. The legal dispute remains separate from Kalshi's oil application, and no final ruling has established that the regulator's perpetual futures classification is unlawful.\n\n## Kalshi's Funding and Trading Record\n\nKalshi is a CFTC-regulated prediction market exchange founded in 2018 that lets retail traders, institutional desks, and brokerage partners trade event contracts and perpetual futures on real-world outcomes across sports, elections, economics, and crypto, according to akta.pro [company records](https://akta.pro/company-data).\n\nThe same records show Kalshi raised a $1 billion Series F at a $22 billion valuation led by Coatue Management in March 2026, doubling its valuation in roughly three months. Kalshi reported $263.5 million in fee revenue for 2025, with annualized trading volume nearing $200 billion.\n\n## Earlier Kalshi Filings and Objections\n\nOn October 20, 2026, Kalshi filed with the CFTC to launch a perpetual WTI crude contract, WTIPERP, which would track Nymex WTI prices without expiration, according to Argus Media. The filing notes the contract would give traders continuous exposure without rolling costs or delivery risks, and the CFTC has 45-90 days to decide.\n\nOn October 14, 2026, CME Group, [Nasdaq](https://akta.pro/company-profiles/00000si/nasdaq) and Cboe submitted objections to the Securities and Exchange Commission concerning Kalshi's separate proposal for perpetual security futures linked to individual stocks, FinanceFeeds reported. The exchanges challenged the proposed regulatory classification, arguing that such products should fall under the security-based swaps framework rather than conventional security futures rules.\n\n## What Comes Next for the WTI Filing\n\nThe CFTC has 45-90 days to decide on Kalshi's WTIPERP filing, according to Argus Media. The CFTC has moved to dismiss CME's lawsuit over the Bitcoin perpetual contract approval, and no final ruling has established that the regulator's perpetual futures classification is unlawful.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}