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Kalshi is preparing to ask the Commodity Futures Trading Commission for approval to launch a perpetual futures contract tied to West Texas Intermediate crude oil, extending its derivatives push beyond crypto and precious metals.
The filing could arrive as early as next week. The proposed product would trade 24 hours a day from Monday through Friday and would require separate CFTC approval before launch.
WTI Perpetual Would Trade 24/5 Without Fixed Expiry
Kalshi plans to offer the WTI contract around the clock on weekdays. Unlike conventional crude oil futures, it would have no fixed expiration date.
That would allow traders to maintain exposure without rolling an expiring contract into a later delivery month, provided they continue meeting collateral and other contract requirements.
Kalshi has not disclosed the proposed reference price, funding mechanism, margin requirements, leverage limits, position limits or launch date.
WTI Contract Requires Separate CFTC Approval
Kalshi cannot rely on its existing Bitcoin perpetual approval to launch the oil-linked product. The CFTC approved Kalshi’s BTCPERP contract in May and said perpetual structures may not be suitable for every asset class, encouraging exchanges to seek individual approval when expanding into other markets.
Kalshi has since submitted perpetual futures tied to gold, silver, platinum, foreign exchange, equity indexes and interest rates, with several still under review. No WTI perpetual application appeared in the CFTC’s public product database as of September 3.
CFTC is Reviewing Perpetuals for Physical Commodities
The proposed WTI contract comes as the CFTC examines perpetual contracts and extended-hours trading involving storable commodities, including energy products.
The regulator has sought public feedback on how those structures should operate in physical commodity markets.
Kalshi’s planned WTI product remains subject to that regulatory process. Until an application is filed and approved, the contract cannot begin trading on the exchange.
