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According to Bloomberg, the Commodity Markets Council urged CFTC to block Kalshi's proposed perpetual crude oil futures contracts with no expiration date, saying they could jeopardize market integrity.
CFTC Proposes including event contracts involving sports, politics, culture, and weather within the definition of “swap” and soliciting public comments for 30 days; it also clarifies that casino-style gambling products are not swaps.
CFTC Issued a no-action exemption allowing eligible designated contract markets to convert certain existing perpetual-style contracts. The exemption is valid until October 20, and holders must be notified and provided with exit and risk-disclosure arrangements before the conversion.