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Kalshi trims crop contract hours after industry pushback

Bloomberg Markets •
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Kalshi, the leading US prediction market, said it will restrict trading hours on its new crop‑linked contracts after pressure from the agriculture sector and derivatives exchanges. The move aligns the platform’s corn, wheat and soybean products with the schedule of traditional exchanges, which close in the early afternoon Chicago time. Traders had feared continuous 24/7 trading would fragment thin markets.

The Commodity Markets Council (CMC) organized two private calls with Kalshi to voice concerns, according to participants who asked to remain anonymous. CMC members such as Cargill, Chevron and the Intercontinental Exchange warned that nonstop trading could dilute liquidity and impede the weekly Commitment of Traders reporting required of regulated markets. Kalshi’s head of government affairs, John Bivona, said the company will adopt the existing exchange hours for agricultural contracts.

The CFTC has signaled it will draft rules tailored to prediction markets, noting that round‑the‑clock trading may not suit every asset class. While Kalshi will keep 24/7 access for non‑agricultural products like oil and precious metals, the concession on crop contracts may ease regulatory scrutiny and preserve relationships with major commodity players. The adjustment underscores the tension between innovative betting platforms and legacy market structures.