{"id":2334,"date":"2026-06-18T18:39:38","date_gmt":"2026-06-18T18:39:38","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=2334"},"modified":"2026-06-18T18:39:38","modified_gmt":"2026-06-18T18:39:38","slug":"cme-sues-us-cftc-over-letting-kalshi-coinbase-offer-perpetual-futures","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=2334","title":{"rendered":"CME sues US CFTC over letting Kalshi, Coinbase offer perpetual futures"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>June 18 (Reuters) &#8211; The Chicago Mercantile Exchange sued the \u200bU.S. Commodity Futures Trading Commission and its chairman, Michael Selig, on Thursday, challenging a recent decision to let \u200cthe prediction markets platform Kalshi and cryptocurrency exchange Coinbase (COIN.O)<svg><\/svg><span>, opens new tab<\/span> list perpetual futures.<\/div>\n<div>CME, a unit of CME Group (CME.O)<svg><\/svg><span>, opens new tab<\/span>, said the contracts are swaps under the 2010 Dodd-Frank financial reforms, a view it said the CFTC had previously accepted, and that the regulator acted arbitrarily and capriciously in approving \u200bthem as futures.<\/div>\n<div>The lawsuit filed in the Washington, D.C., federal court seeks to void the CFTC&#8217;s May 29 \u200bapproval for Kalshi to list a bitcoin perpetual future, as well as a policy statement allowing \u2060futures exchanges to offer similar contracts. CFTC said the same day it would not object if Coinbase allowed U.S. investors \u200baccess to its foreign perpetual futures pegged to cryptocurrencies.<\/div>\n<div>A CFTC spokesperson called the lawsuit &#8220;frivolous.&#8221; Kalshi and Coinbase were not named \u200bas defendants.<\/div>\n<div>Perpetual futures, sometimes known as perpetual contracts, are derivatives that track prices of underlying assets such as cryptocurrencies, and allow investors to use high levels of leverage.<\/div>\n<div>The investments also lack expiration dates, allowing traders to hold positions indefinitely, and can qualify for favorable tax \u200btreatment.<\/div>\n<h2>CFTC SAYS CME FEARS COMPETITION<\/h2>\n<div>In its complaint, CME said the CFTC&#8217;s decision to approve perpetual futures inflicts &#8220;textbook competitive injury&#8221; by \u200bletting Kalshi, Coinbase and others compete for its retail customers.<\/div>\n<div>Shares of CME and Intercontinental Exchange (ICE.N)<svg><\/svg><span>, opens new tab<\/span>, the parent of the New York Stock \u200cExchange, \u2060fell after the decision, reflecting investor concern about the competitive threat to existing exchanges.<\/div>\n<div>The CFTC spokesperson said: \u201cRather than compete in the marketplace, the CME has decided to undertake lawfare against the agency and the Trump Administration\u2019s pro-innovation agenda. Incumbents fear the future and having to compete on a level playing field.&#8221;<\/div>\n<div>Kalshi spokesperson Elisabeth Diana said: &#8220;This isn&#8217;t about the law, it&#8217;s \u200babout the fear of competition.&#8221;<\/div>\n<div>Faryar \u200bShirzad, Coinbase&#8217;s chief policy officer, \u2060said: &#8220;Competition and innovation are the bedrock of vibrant financial markets and we commend the CFTC for onshoring modern contract structures that benefit American investors.&#8221;<\/div>\n<h2>SEEKING PROFITS FROM CRYPTOCURRENCY VOLATILITY<\/h2>\n<div>Perpetual futures trading \u200bvolume grew 29% last year to $61.7 trillion, according to market data provider CryptoQuant, as \u200btraders sought new \u2060ways to profit from cryptocurrency volatility.<\/div>\n<div>In a May 29 editorial published by CoinDesk, Selig said allowing perpetual futures reflected the CFTC&#8217;s &#8220;statutory obligation to promote responsible innovation,&#8221; and supported President Donald Trump&#8217;s goal of making the United States the &#8220;crypto capital of the \u2060world.&#8221;<\/div>\n<div>Selig is \u200bthe only commissioner on the CFTC, which normally has five commissioners.<\/div>\n<div>The agency \u200bis also involved in lawsuits with many U.S. states over prediction markets, which let people wager on the outcome of events such as sports and \u200belections. Many states consider such wagers a form of gambling.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2332\">SpaceX shares tumble as post-IPO frenzy loses steam<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2330\">US-Iran deal redraws the Middle East: Iran gains, rivals alarmed<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2328\">Space startups seek insurance for orbital AI data centers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chicago Mercantile Exchange sued the \u200bU.S. Commodity Futures Trading Commission and its chairman, Michael Selig, on Thursday, challenging a recent decision to let \u200cthe prediction markets platform Kalshi and cryptocurrency exchange Coinbase list perpetual futures.<\/p>\n","protected":false},"author":1,"featured_media":2333,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[112,78,41],"class_list":["post-2334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-capital-markets","tag-regulatory-oversight","tag-securities-enforcement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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