CME Group Takes Legal Action Against CFTC Over Crypto Futures

WHO:

CNBC - Outgoing CME Group CEO Terrence Duffy spoke during CNBC's "Fast Money" on Wednesday afternoon.

Cointelegraph - CME Group is suing the Commodity Futures Trading Commission (CFTC) and its Chair Michael Selig.

CNBC - Terrence Duffy is the CEO of CME Group Inc.

WHAT:

CNBC - Duffy stated that perpetual futures are actually swaps under the Dodd-Frank Act, which will be the basis of the CME's lawsuit.

CNBC - The CFTC approved prediction market platform Kalshi in late May to begin offering bitcoin perpetual futures, marking the first time this asset class was allowed in the U.S.

CNBC - Kalshi has since expanded its perps offerings to include other cryptocurrencies.

Cointelegraph - The lawsuit alleges that the CFTC is treating cryptocurrency “futures” as “swaps.”

CNBC - The CME Group will file a lawsuit against the CFTC over the agency's approval of perpetual futures.

CNBC - The CFTC approved Kalshi to offer bitcoin perpetual futures, marking the first approval of this asset class in the U.S.

WHERE:

CNBC - The announcement was made during the Piper Sandler Global Exchange and FinTech Conference in New York City.

WHEN:

CNBC - The lawsuit is set to be filed on Thursday.

WHY:

CNBC - Duffy expressed concerns that the CFTC's actions pose risks to derivatives markets.

CNBC - Duffy stated that perpetual futures should be classified as swaps under the Dodd-Frank Act, which is the basis for the lawsuit.

CNBC - Duffy expressed concerns that the CFTC's actions pose risks to derivatives markets.

HOW:

CNBC - Duffy mentioned that CME has an exclusive license with every provider of the benchmarks, implying that all perpetual futures would need to go through CME.

(UPDATED June 19, 2026 01:55 UTC)

Outgoing CME Group CEO Terrence Duffy spoke during CNBC's "Fast Money," where he revealed that perpetual futures are essentially swaps under the Dodd-Frank Act, forming the basis of an upcoming lawsuit. This lawsuit is set to be filed on Thursday, as Duffy raised concerns about the risks posed to derivatives markets by the CFTC's actions. He also noted that CME holds an exclusive license with every benchmark provider, suggesting that all perpetual futures would need to go through CME.

(UPDATED June 18, 2026 21:42 UTC)

The Commodity Futures Trading Commission has approved the prediction market platform Kalshi to offer bitcoin perpetual futures, marking a significant milestone as it's the first time this asset class has been allowed in the U.S. Since that approval in late May, Kalshi has expanded its offerings to include other cryptocurrencies as well. A lawsuit related to this development is set to be filed on Thursday.

(UPDATED June 18, 2026 19:50 UTC)

CME Group is suing the Commodity Futures Trading Commission and its Chair Michael Selig over the agency's approval of bitcoin perpetual futures, which CME claims should be classified as swaps under the Dodd-Frank Act. The lawsuit, set to be filed on Thursday, comes after the CFTC's decision to allow Kalshi to offer these futures, marking a significant development in the U.S. cryptocurrency market. CEO Terrence Duffy expressed concerns that the CFTC's actions could pose risks to derivatives markets, emphasizing that all perpetual futures would need to go through CME due to their exclusive licensing agreements.