TechFlow news: On June 18, Terrence Duffy, outgoing CEO of the CME Group, announced that the company will file a lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) on Thursday, challenging the CFTC’s approval of Kalshi—a prediction market platform—to launch Bitcoin perpetual futures products.
Duffy stated that perpetual futures should, by their nature, be classified as swap contracts under the Dodd-Frank Act framework—not as standard futures contracts—making this the central legal basis for CME’s lawsuit. He further noted that CME holds exclusive licensing rights from the relevant benchmark providers; therefore, any such products—whether perpetual or not—must be approved through CME.
Prior to this, Kalshi had already expanded the approved product to other cryptocurrencies following its CFTC authorization. The CFTC has not yet responded to this matter.
