Commodity Markets Council urges CFTC to block Kalshi's oil futures contract

CME: CME Group operates major US derivatives exchanges offering futures and options across asset classes including commodities. It participates in industry advocacy through groups such as the Commodity Markets Council. The news identifies CME as one of the exchanges represented by the Council in urging the CFTC to withhold approval of Kalshi's oil contract proposal. Kalshi: Kalshi operates a regulated platform offering prediction markets and event-based derivatives contracts. It has recently pursued CFTC approval for expanded products including energy-linked futures. The news focuses on industry pushback against its proposed perpetual oil futures contract. Commodity Markets Council: Commodity Markets Council is a trade association representing US derivatives exchanges and related firms active in commodity markets. It regularly engages with regulators on policy matters concerning derivatives trading, market integrity, and oversight frameworks. In the reported development, the Council submitted comments to the CFTC opposing approval of Kalshi's proposed perpetual oil futures contract. Industry Advocacy: US derivatives exchanges are actively engaging regulators on new contract proposals and related loopholes affecting retail access to offshore platforms. Regulatory Scrutiny: The Commodity Markets Council has urged the CFTC to deny approval for perpetual oil futures contracts citing risks to market integrity.