The Commodity Markets Council, which represents CME Group and other derivatives exchanges and commodity merchants, urged the U.S. Commodity Futures Trading Commission not to approve Kalshi’s planned perpetual oil futures, citing market-integrity risks, BlockBeats reported, citing Bloomberg.
Group asks CFTC to close perceived loopholes
The organization also called on the CFTC to close regulatory gaps that could allow retail traders to access offshore trading platforms through the products.
The appeal concerns a proposed Kalshi contract; the flash did not report a CFTC decision or a response from Kalshi. The concerns and regulatory request were attributed to the Commodity Markets Council in Bloomberg’s report.