TREE NEWS update: The US CFTC has asked a Washington DC court to dismiss CME’s lawsuit against Kalshi over its bitcoin perpetual futures. Kalshi’s cash-settled BTCPERP, approved May 29, has no expiry and uses funding rates. The CFTC called the suit overblown, noting CME could list similar products and its bitcoin futures volumes were higher in June and August than May. CME must respond by October 2.
CFTC asks court to dismiss CME suit over Kalshi BTC perps
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AI take
The CFTC's motion signals a regulatory stance that competitive overlap in crypto derivatives is not grounds for legal intervention, potentially reshaping how exchanges view product exclusivity. Kalshi's approval and the CFTC's defense could embolden other platforms to launch perpetual-style products, intensifying market competition. The key watchpoint is whether the court accepts the CFTC's reasoning, which would set a precedent limiting incumbent exchanges' ability to challenge new entrants via litigation. CME's response due in early October will clarify the legal battle's trajectory.
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