Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
FollowingThe WTI contract will never expire
CME Group has cancelled its all-weather crude oil trading plan, and commodity trading has become a greater focus. Kalshi filed an application with the U.S. Commodity Futures Trading Commission (CFTC) for approval to provide a West Texas Intermediate Crude Oil (WTI) perpetual futures contract.
The proposed contract will be traded 24 hours a day, 5 days a week, with no expiration date. The CFTC has 45 days to approve or reject the petroleum product proposal. The application follows CME Group's withdrawal of its all-weather crude oil trading plan.
WTI contracts will never expire
Kalshi asked the CFTC to approve a West Texas Intermediate Crude Oil (WTI) perpetual futures contract. The product will allow eligible U.S. traders to obtain crude oil exposure through regulated platforms without requiring a fixed maturity date.
The CFTC must approve or reject the proposal within 45 days. Perpetual futures require direct review and cannot use the self-certification process available for some exchange products, reflecting more stringent regulatory review of such contracts.
The proposed contract will be traded 24 hours a day, 5 days a week, while remaining open with no expiration date. Kalshi recently extended this model beyond cryptocurrencies with the launch of its US500 perpetual futures, which began trading on October 6.
The oil-related application was submitted at a time when commodity prices fluctuated violently due to geopolitical tensions. Since the beginning of 2026, WTI futures have been trading within a range of about $60 per barrel, attracting more attention from institutional and retail investors.
CME Group cancels its all-weather crude oil trading plan
Kalshi's application follows CME Group's decision to withdraw its continuous crude oil trading plan, a move that stems from industry resistance. Previously, the CFTC had blocked the proposal, prompting the industry to reassess whether weekend trading would apply to physical crude oil pricing and cargo settlement.
CME's plan would have extended trading into weekends while retaining the traditional expiration cycle. Kalshi proposed a non-expiration contract that would be traded only on trading days. The application comes as the CFTC is also reviewing market forecasting rules that may affect event-based product classification.
Commodity trading becomes greater focus
Kalshi has expanded its commodity product line as traders seek exposure beyond elections, sports and cryptocurrencies. The latest data shows that short-term gold market activity is rising, and commodity trading growth on Kalshi continues to outpace the platform's early cryptocurrency expansion.
The company said that as of early September, trading volume in the commodity market was close to US$400 million. According to platform data, this level is almost four times the transaction volume recorded after the launch of cryptocurrency products during the same period.
The current oil proposal provides regulators with another example of testing perpetual futures in traditional markets. If approved, Kalshi could add crude oil to its growing range of regulated derivatives while providing traders with a contract structure that avoids scheduled maturities and rollover. The proposal would also demonstrate the extent to which U.S. regulators are willing to expand sustainability structures beyond digital assets and stock indices to key physical commodities.
