CME Group Sues CFTC Over Kalshi Bitcoin Perpetual Futures Approval

On June 18 CME Group announced plans to sue the CFTC, challenging its May 29 approval of Kalshi’s BTCPERP contract as improperly classified under Dodd-Frank. The move follows CFTC leadership changes on May 18, landmark approvals for Kalshi and Coinbase on May 29, and launches by Kalshi (June 3) and Kraken (June 15). Bitcoin briefly reached $74,000 on the initial news while offshore perpetual volume exceeded $60 trillion annually. The lawsuit highlights ongoing classification, leverage, and retail-risk disputes even as trading shifts onshore.