The Commodity Futures Trading Commission (CFTC) is seeking to dismiss a lawsuit filed by CME Group against the approval of Kalshi’s Bitcoin perpetual futures contract. The regulator argues that CME lacks legal standing to challenge the decision, as the exchange has failed to demonstrate concrete injury from the new product.
In court filings, the CFTC highlighted that trading volumes for CME’s Bitcoin futures rose by 15.3% between May 2026 and August 2026, reaching 298,958 contracts. The regulator also cited statements from CME executives made on July 22, 2026, claiming a lack of institutional demand for perpetual contracts and noting that CME could launch its own product if desired.
The CFTC approved Kalshi’s BTCPERP contract on May 29, 2026, marking the first US-regulated perpetual futures product. CME Group initiated legal action on June 18, 2026, challenging the approval process and the classification of the product as a futures contract. The case is currently before Judge Colleen Kollar-Kotelly.
