CME Group to Sue CFTC Over Bitcoin Perpetual Futures Approval in Clash Over Dodd-Frank Classification

CME Group plans to sue the Commodity Futures Trading Commission (CFTC) over its approval of Bitcoin perpetual futures, arguing the products should be classified as swaps under the Dodd-Frank Act. The CFTC approved Kalshi and Coinbase to offer these contracts, asserting they bring crypto derivatives under U.S. regulation. CME claims the CFTC bypassed standard review procedures and that perpetual futures require different regulatory treatment.