Derivative Exchanges Urge CFTC To Deny Kalshi's Request To Offer Oil Perpetuals

HIGHLIGHTS The Commodity Markets Council has asked the CFTC to block Kalshi's bid to offer oil perpetuals. The prediction markets platform already offers oil futures. The group has also asked the regulator to block a loophole that gives retail traders access to offshore platforms. The Commodity Markets Council (CMC), which represents derivative exchanges such as the CME Group, is pushing for the Commodity Futures Trading Commission (CFTC) to deny Kalshi's request to offer perpetual crude oil contracts. The group is also seeking to block retail traders from gaining access to offshore derivatives platforms.