CME Group CEO Terence Duffy announced on CNBC that the exchange operator will file a lawsuit against the Commodity Futures Trading Commission (CFTC) on June 18, citing the regulator's decision to allow trading of perpetual futures in the U.S.
The lawsuit was prompted by the CFTC’s approval in late May of the Kalshi platform, which was permitted to launch perpetual BTC futures (the first such precedent in the U.S. market). Subsequently, Kalshi expanded its product lineup by adding perpetual contracts on other crypto assets.
CME argues that, under the law, perpetual futures are swaps and therefore must be traded through an exchange—CME holds exclusive licenses for all relevant benchmarks.
The CFTC has not yet commented on the situation.
Continue reading this article on source: cnbc.com