CME Sued by Own Regulatory Body Over Crypto Perpetual Approval

The US Commodity Futures Trading Commission (CFTC) has filed to dismiss the Chicago Mercantile Exchange's (CME) lawsuit over its crypto perpetual approvals for Kalshi and Coinbase.

In a recent filing, the CFTC referred to the CME's lawsuit as 'much ado about nothing', stating that even the exchange is free to offer the products.

The regulator clarified that the approval allows any player with a Designated Contract Market (DCM) license, including the CME, to offer crypto perps. This means the CME is free to list the same type of perpetual futures as Kalshi and other DCMs.

The CFTC also disagreed with CME's claims that it is protected by the Commodity Exchange Act (CEA), stating that CME does fall within the 'zone of interests' protected by the CEA, but its lawsuit is a way to fend off competition and defend its business.