Media: Kalshi Prepares First Perpetual Oil Contract in the US

Published: September 3, 2026 – 08:58 UTC

Kalshi wants to launch perpetual oil futures.
The platform intends to file the relevant application with the CFTC.
This move would enable round-the-clock trading in the commodity contract.

Prediction markets platform Kalshi plans to submit an application to the U.S. Commodity Futures Trading Commission (CFTC) to launch a perpetual futures contract tied to West Texas Intermediate (WTI) oil, Bloomberg reports, citing a source familiar with the matter.

If the regulator approves the product, it would become the first perpetual oil future to trade on a regulated platform in the U.S., potentially bringing a derivatives format popular in crypto into the traditional energy sector.

Kalshi Wants to Launch Perpetual Oil Futures

The application is expected to be filed with the CFTC as early as next week, according to a source familiar with Kalshi’s decision. The contract will be linked to the WTI benchmark and will have no set expiration date.

Perpetual futures have no end date and allow traders to increase leverage on each individual position. This type of contract has gained significant popularity in the crypto market, and during the war between Iran and Israel it became one of the few ways for retail investors to trade oil during periods when traditional futures markets were closed.

As a reminder, amid the escalation of the conflict between the U.S., Israel, and Iran, demand for such instruments rose. In particular, traders used perpetual derivatives on the Hyperliquid platform to trade oil, gold, and silver 24/7, highlighting a new role for DeFi platforms as tools for hedging geopolitical risk.

At the same time, the popularity of round-the-clock markets has sparked a debate over how weekend and after-hours trading can affect price discovery once the main trading sessions reopen.

Kalshi plans to trade the oil contract 24 hours a day, five days a week. This would set it apart from the platform’s continuous trading in crypto perpetual contracts. According to the source, this schedule is meant to address regulatory concerns that emerged during discussions around round-the-clock markets.

Kalshi’s Conflict With CME Over Round-the-Clock Trading

The launch of the oil product comes amid a public standoff between Kalshi and CME over the shift of traditional derivatives markets to around-the-clock trading.

In June, CME prepared a lawsuit against the CFTC after the regulator allowed Kalshi to launch similar perpetual contracts tied to cryptocurrencies. Later, the CFTC blocked CME’s proposal for around-the-clock trading in oil futures, even though CME’s contracts, unlike Kalshi’s product, would have had a defined expiration date.

Now, the CFTC is reviewing CME’s halted proposal and consulting with a broad group of oil companies and refiners. For energy market participants, the accuracy of benchmark prices is critical, as they use them to value and move oil cargoes.

The outcome of this review could determine whether the oil market joins the broader shift of financial markets to a 24/5 schedule.

At the same time, CME Group CEO Terry Duffy recently clashed with CFTC Chair Mike Selig and Kalshi co-founder Luana Lopez Lara over the regulation of prediction markets. Duffy said such platforms are prone to manipulation and require tougher oversight, while Lopez Lara responded by asking whether CME had faced similar issues.

This debate goes beyond derivatives. In September 2026, the SEC will hold a roundtable on a possible shift of the U.S. stock market to around-the-clock trading. The regulator plans to discuss exchanges’ technical readiness, infrastructure resilience, investor protection, as well as the potential benefits and risks of continuous market operation.

Сообщение Media: Kalshi Prepares First Perpetual Oil Contract in the US появились сначала на INCRYPTED.

Source: Incrypted