CFTC Defends Crypto Perpetual Futures Approval
The CFTC's legal team has moved to dismiss CME Group's lawsuit challenging the regulator's approval of Kalshi's Bitcoin perpetual futures contract, characterizing the dispute as "much ado about nothing." The CFTC argues that CME lacks legal standing to contest the approval, as the order permits any designated contract market—including CME itself—to list crypto perpetual futures products.
The case centers on whether the CFTC had authority to greenlight perpetual contracts without expiration dates and settlement mechanisms distinct from traditional futures. CME contends the products warrant closer regulatory scrutiny, but the CFTC maintains its approval was within its mandate. Separately, Kalshi has reportedly filed for CFTC approval to expand into WTI crude oil perpetual futures trading around the clock five days a week, signaling potential broadening of the regulatory framework beyond digital assets.
