CME Group Inc. (CME) to Sue CFTC Over Perpetual Futures Approval

AI Summary

CME Group Inc. (CME) CEO Terrence Duffy announced on CNBC that the exchange operator will sue the Commodity Futures Trading Commission (CFTC) over its approval of bitcoin perpetual futures, which was granted to Kalshi in late May. Duffy argues that these futures are swaps under the Dodd-Frank Act, and this will form the basis of the lawsuit expected to be filed on Thursday. He emphasized that CME holds an exclusive license with benchmark providers, asserting that all perpetual futures should be listed as swaps. The decision by the CFTC represents a significant regulatory development in the U.S. cryptocurrency market.