CME CEO Terrence Duffy says the exchange operator will sue CFTC over perpetual futures
CME Group Inc. CEO Terry Duffy speaks during the Piper Sandler Global Stock Exchange and FinTech Conference on June 5, 2025 in New York, USA.
Adam Gray | Reuters
extrovert CME Group The exchange operator will sue the Commodity Futures Trading Commission over the agency’s move to approve perpetual futures, CEO Terrence Duffy said on CNBC’s “Fast Money” Wednesday afternoon.
CFTC approved prediction market platform Kalshi end of may To begin offering Bitcoin perpetual futures or “criminals.” These are futures contracts that do not have an expiration date but allow investors to speculate on a price without owning the underlying asset. This approval marked the first time the asset class, already popular abroad, was allowed in the US. Kalshi has since expanded its criminal offerings to include other cryptocurrencies.
Duffy argued that perpetual futures are actually swaps under the Dodd-Frank Act. He said this will be the basis of CME’s lawsuit, which will be filed on Thursday.
“We have an exclusive license with each provider of the benchmarks. So all of those will have to go through CME regardless of whether they’re permanent or not,” Duffy said on “Fast Money.”
“If it turns out that way, they should list them as trades,” he added.
Duffy, who will it be? I am resigning as CEO He added in March 2027 that he had been working on this plan with the board for the last eight months and was “always ready for a good fight”.
“I have never been afraid of anyone and I will not be afraid of this one either,” he said. “I’m prepared, and I’ll be ready to do it. That’s why I wanted to announce on your show that we’re filing this lawsuit tomorrow, because we don’t take this lightly.”
The CFTC did not immediately respond to a phone call seeking comment.
Earlier this week, CFTC Chairman Michael Selig defended his agency’s decision to approve domestic perpetual futures in an appearance on CNBC’s “Fast Money.”
“It is time to approve regulated futures contracts that have no expiration date,” he said. “We will make sure the product is available, but it is well regulated here in the US.”
Disclosure: CNBC and Kalshi have a business relationship that includes customer acquisition and minority investment.
