TREE NEWS update: Kalshi has filed a proposal with the US Commodity Futures Trading Commission for a futures contract tied to the West Texas Intermediate crude benchmark. The contract expires only once every ten years, using a perpetual futures structure that never truly expires; because perpetuals face stricter regulatory scrutiny, the exchange cannot self-certify it for listing as it does with other event contracts. The CFTC has 45 days to decide whether to approve the product.
Kalshi Files With CFTC for Perpetual-Style WTI Crude Oil Futures
AI take
The filing matters less for the crude exposure itself than for the regulatory path it tests: a perpetual-style contract cannot be self-certified, so Kalshi is asking the CFTC to affirmatively bless a structure the agency has historically viewed with caution. That makes this a precedent question for how perpetuals might reach US-regulated venues, not just another listing. The 45-day window is the near-term marker, and whether the CFTC treats a ten-year expiry as a genuine distinction from a true perpetual is the open question worth watching.
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