News about CFTC

The CFTC filed a brief arguing that CME Group has not shown its business is harmed by the agency's new push into perpetual futures, so it lacks legal standing to challenge the policy. The regulator approved the first bitcoin perpetual from Kalshi in May and says it will regulate such products case by case as futures, while CME insists perps are swaps because they have no expiration date. The CFTC noted that CME's crypto futures volume has risen since the policy change and said CME cannot take one position in court and another on earnings calls. TD Cowen analyst Jaret Seiberg warned that rapid growth in perps during the litigation could complicate unwinding the market if CME prevails.