CME sues CFTC over approval of perpetual futures contracts
The Chicago Mercantile Exchange has filed a lawsuit against the US Commodity Futures Trading Commission, challenging its decision to allow Kalshi and Coinbase to list perpetual futures contracts.
The contracts in question are swaps under the 2010 Dodd-Frank financial reforms, and CME claims the CFTC acted arbitrarily in approving them as futures.
The lawsuit seeks to void the CFTC’s approval for Kalshi to list a bitcoin perpetual future and a policy statement allowing futures exchanges to offer similar contracts.