Kalshi is in advanced discussions with regulators to offer US-regulated perpetual futures contracts on West Texas Intermediate crude oil, expanding beyond the crypto products that have driven its recent growth. Perpetual futures are contracts without expiration dates, allowing traders to maintain leveraged positions indefinitely rather than rolling traditional futures at fixed settlement dates. The CFTC (U.S. derivatives regulator) approved Kalshi's first Bitcoin perpetual futures contract on May 29, 2026, and trading began June 3. Crypto perpetual futures exceeded $1 billion in notional volume during their first week and reached $16.1 billion by early July 2026. Kalshi chief risk officer Udesh Jha described talks with the CFTC as advanced on July 9, 2026, while the agency opened a June 2026 consultation on perpetual contracts for deliverable energy commodities, including crude oil. Energy contracts would likely trade during regular market hours, unlike Kalshi's Bitcoin contracts, while agricultural commodities are excluded from the exchange's plans. Under Regulation 40.3, each new perpetual-futures asset class requires separate regulatory approval. Kalshi has also filed applications covering metals and foreign exchange/rates products, although a formal WTI filing had not been publicly confirmed by early September 2026. CME Group has sued the CFTC over its approval of crypto perpetual futures, citing competitive concerns and opposing round-the-clock trading for certain commodities; regular-hours energy trading could partly address that issue.