Kalshi to Seek CFTC Approval for Perpetual WTI Crude Contract

This move signals prediction markets are pushing deeper into traditional commodity derivatives, blurring the line between event contracts and mainstream futures. If approved, it could test the CFTC's stance on perpetual instruments outside regulated exchanges, potentially opening a new venue for oil price exposure. The key watchpoint is whether regulators treat this as a novel product or a regulatory arbitrage concern, which could set a precedent for other commodities.