Inside the CME and CFTC’s battle over onchain perpetual futures
The CME Group has filed a lawsuit against the CFTC, challenging the regulator's decision to allow the listing of perpetual futures products on platforms like Coinbase and Kalshi. The CME argues that these products, which lack expiration dates, are mislabeled and could negatively impact traditional long-dated futures markets.
It’s highly unusual for the largest derivatives exchange operator in the U.S., the CME Group, to be at war with its regulator, the Commodity Futures Trading Commission (CFTC) — but that's now happening in a situation brought about by the agency's decision to allow blockchain-based perpetual future products.
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