Exchanges jointly urge CFTC to block Kalshi's launch of perpetual oil futures

According to Bloomberg, the Commodity Markets Council, representing derivatives exchanges such as CME Group and commodity traders, has informed the U.S. Commodity Futures Trading Commission (CFTC) that perpetual futures pose significant risks to market integrity, urging regulators not to approve the perpetual oil futures contract proposed by prediction market platform Kalshi. The organization also called on the CFTC to plug regulatory loopholes to prevent retail investors from accessing offshore trading platforms through this channel.