CME-Backed Group Pushes Back on Kalshi as Phantom Rolls Out Prediction Markets

The Commodity Markets Council wants the CFTC to block Kalshi's first oil perp, as Kalshi's October volume hits $55.33B and Phantom brings its markets to US users. A trade group whose members include CME, NYMEX and ICE Futures US urged the CFTC on Thursday to withhold approval of WTIPERP, the no-expiry WTI crude perpetual Kalshi filed for on Tuesday. The pushback lands as Phantom begins rolling out Kalshi's prediction markets to its US users. Incumbents Push Back: The council's letter didn't name Kalshi, Bloomberg reported .