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🇺🇸 The world’s largest futures exchange is suing the U.S. regulator ove…
🇺🇸 The world’s largest futures exchange is suing the U.S. regulator over perpetual futures CME Group, the operator of the world’s largest futures exchange, is set to file a lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) over its decision to allow perpetual futures in the U.S. market. CME CEO Terry Duffy stated that these contracts should be regulated as swaps rather than traditional futures. This will be the main argument behind the lawsuit. Duffy called “perps” a product whose risks are not fully understood by many and said that they “should never have been introduced in the first place.” He warned that speculation in prediction markets and perpetual crypto futures is starting to resemble the situation before the 2008 financial crisis and could become a “disaster waiting to happen.” In May, the CFTC approved the launch of perpetual futures for Kalshi, Coinbase, and other U.S. crypto platforms.
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