CME sues CFTC to block Kalshi and Coinbase perpetual futures
CME Group filed a federal lawsuit to overturn the CFTC’s May 29 approval that let Kalshi and Coinbase list bitcoin perpetual futures. The exchange argues the contracts are swaps, not futures, and that the regulator acted arbitrarily, citing competitive injury. The case spotlights a clash between incumbents and the crypto‑derivatives wave.