CME to File Lawsuit Against CFTC on Thursday Over Perpetual Futures Classification

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CME Group, the world's largest futures exchange operator, is preparing to file a lawsuit against the US Commodity Futures Trading Commission (CFTC) on Thursday over the regulator's recent approval of perpetual futures contracts. CME argues that perpetual futures should be classified as swaps under the Dodd-Frank Act rather than futures contracts. The dispute follows the CFTC's approval last month of Kalshi's bitcoin perpetual products and a no-action position granted to Coinbase Financial Markets. CME CEO Terrence Duffy criticized the product classification and questioned the speed of the CFTC's regulatory review process, stating the company intends to challenge the decision in court.
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