CME chief executive says company plans to sue CFTC after perpetual futures approval
CoinDesk·
60-second summary
CME chief executive Terrence Duffy announces the company plans to sue the CFTC, stating Kalshi's perpetual futures product does not meet the Dodd-Frank Act's definition of a "swap" and should not have been approved. Kalshi's product allegedly failed to meet certain criteria, prompting CME's decision to take legal action against the CFTC's regulatory approval. Market implications remain uncertain.
Kalshi's perpetual futures product did not meet the Dodd-Frank Act's definition of a "swap" and should not have been approved, Terrence Duffy said.