CFTC Seeks Dismissal of CME's Crypto Perpetual Futures Lawsuit

The U.S. Commodity Futures Trading Commission (CFTC) has asked a federal court to dismiss a lawsuit filed by CME Group over cryptocurrency perpetual futures.

CME had objected to the regulator's approval of Bitcoin perpetual futures contracts for prediction market platform Kalshi, arguing that the CFTC circumvented its own regulations to force the approval through.

The CFTC argued in its motion to dismiss that CME was equally positioned to list the same perpetual futures as Kalshi and that CME had publicly stated its customers did not want the product.