CFTC Moves to Dismiss CME Lawsuit Challenging Kalshi's Bitcoin Perpetual Futures Approval

The Commodity Futures Trading Commission (CFTC) has filed a motion to dismiss CME Group's lawsuit, which contested the CFTC's approval of Kalshi's Bitcoin perpetual futures contract. The CFTC argues that CME cannot demonstrate actual competitive injury and rejects CME's assertion that Kalshi's futures should be classified as swaps. This case carries significant implications for the US crypto derivatives market and regulatory oversight.