CME to file federal lawsuit against CFTC over late-May approval of bitcoin perpetual futures

CME Group CEO Terrence Duffy said the exchange operator will file a federal lawsuit against the CFTC over the regulator’s late-May approval of bitcoin perpetual futures for prediction-market platform Kalshi. He argues the contracts approved as futures should be treated as swaps under the Dodd-Frank Act and says the agency exceeded its authority by fast-tracking the approval without adequate review. Duffy also said CME holds exclusive licensing agreements with major benchmark providers whose indexes underpin crypto-derivatives pricing.