The CFTC approved KalshiEX's Bitcoin perpetual contract, leading CME to sue, arguing it should be classified as a swap. This decision blurs lines between futures, sports betting, and crypto trading, with potential for significant market shifts.
CME Group, the world's largest futures exchange operator, plans to sue the CFTC over its approval of crypto perpetual futures. Outgoing CEO Terry Duffy argues these are swaps, not futures, under the Dodd-Frank Act, and the suit will be filed Thursday.
CME Group announced Wednesday that CEO Terry Duffy will step down next year, succeeded by President and CFO Lynne Fitzpatrick. Duffy, who led the company for over 25 years, will become executive chairman. Fitzpatrick, a 20-year veteran, will take over as CEO on March 1, 2027.
