CFTC Seeks to Dismiss CME Lawsuit Over Kalshi's Bitcoin Perpetual Futures Approval

The Commodity Futures Trading Commission (CFTC) has filed a motion to dismiss CME Group's lawsuit challenging the approval of Kalshi's Bitcoin perpetual futures. According to the CFTC, CME lacks standing because it can list similar perpetual futures itself and has not demonstrated competitive harm.

The case highlights the classification of perpetual contracts as futures or swaps, which affects regulation and market expansion. The CFTC argues that CME has failed to show that Kalshi's approval would cause it any harm in terms of competitiveness.