Kalshi Seeks CFTC Approval for WTI Crude Perpetual Futures

Kalshi, a prediction-market operator regulated by the Commodity Futures Trading Commission, is seeking to broaden its reach beyond event contracts into mainstream derivatives. Proposed perpetual futures linked to a large-cap U.S. equity index and copper would place the company in markets traditionally served by established futures exchanges. The move is significant because perpetuals have no fixed expiry and are most closely associated with offshore cryptocurrency trading venues, making their treatment under U.S. derivatives rules a key test.

As of August 2026, Kalshi has filed with the CFTC to list perpetual futures tracking a U.S. 500-stock index and copper, according to reports on the submissions. The copper contract would use pricing data supplied by Pyth Network, a Web3 oracle provider, bringing blockchain-based market data into the design of a regulated derivatives product. The filings mark Kalshi’s latest step toward becoming a broader financial exchange, though the proposed contracts remain subject to the U.S. regulatory process.