Exchanges jointly urge CFTC to stop Kalshi from launching perpetual oil futures

According to Bloomberg, the Commodity Markets Council, representing derivatives exchanges such as the CME Group and commodity traders, has informed the U.S. Commodity Futures Trading Commission (CFTC) that perpetual futures pose a significant risk to market integrity and urged regulators not to approve the perpetual oil futures contract proposed by the prediction market platform Kalshi.

The organization also called on the CFTC to close regulatory loopholes to prevent retail investors from accessing offshore trading platforms.