CME sues CFTC over Kalshi perpetual futures approval

CME Group sued the Commodity Futures Trading Commission, asking a court to vacate its approval of Kalshi's perpetual futures contracts and related self-certified products. The suit followed an announcement by outgoing CEO Terry Duffy that the company would take legal action over the CFTC approval.

The case is notable because perpetual futures, or perps, are a relatively new product with strong ties to the crypto industry, and it is uncommon for a major exchange operator to challenge its primary regulator. CME's complaint says the CFTC's handling of Kalshi's application violated Dodd-Frank and could harm CME's business.

United States

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