CFTC Seeks to Dismiss CME Lawsuit Over Crypto Perpetuals Approval

The US Commodity Futures Trading Commission (CFTC) has filed to dismiss a lawsuit from the Chicago Mercantile Exchange (CME) over its approval of crypto perpetuals for Kalshi and Coinbase. The regulator claims that even CME is free to offer these products.

In its filing, the agency called the CME lawsuit an 'overreaction,' stating that it's 'much ado about nothing.'

The CFTC maintains that the Commodity Exchange Act allows any player with a Designated Contract Market (DCM) license, including CME, to offer crypto perps.

CME is free to list the same type of perpetual futures as Kalshi and other DCMs. If CME's assertions of competitive injury have any substance, those injuries are self-inflicted due to its refusal to list perpetual futures for trading.