Are perps swaps? A quick look at that CME suit: State of Crypto
CME Group filed a lawsuit against the Commodity Futures Trading Commission alleging it should not have approved Kalshi's perpetual futures contracts the way it did and asking a court to vacate the approval and self-certified products. CME Group sued the CFTC on Thursday, alleging the agency did not properly consider prediction market provider Kalshi's application to list perpetual futures contracts before granting the application. The suit came a day after outgoing CEO Terry Duffy announced it would file over the approval granted at the end of May.