The CFTC said CME has not shown imminent financial harm needed to challenge the agency’s perpetual-contract policy, according to a court filing reported by BlockBeats.
Standing dispute
The agency said CME had alleged stronger competition but had not adequately explained an immediate financial injury. CFTC filings also said CME’s crypto-futures trading volume grew after the policy adjustment.
Product classification
BlockBeats said the CFTC approved Kalshi’s first Bitcoin perpetual contract in May and treats such products as futures on a case-by-case basis. CME argues that perpetuals have no expiration and should instead be classified as swaps.
Source: BlockBeats flash.