CFTC Requests Court to Dismiss CME's Lawsuit Against Kalshi's Bitcoin Perpetuals

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The CFTC has asked a Washington D.C. court to dismiss CME’s lawsuit regarding Kalshi’s Bitcoin perpetual futures contract. The cash-settled BTCPERP contract, approved on May 29, uses a funding rate to track Bitcoin’s price. CME argues that perpetual futures without delivery dates should be classified as swaps, not futures. The CFTC dismissed the case as “fussing over nothing” and noted that CME could list similar products. CME’s Bitcoin futures trading volumes in June and August exceeded those in May. CME must respond by October 2. Traders are also monitoring altcoins amid ongoing regulatory developments.

ChainCatcher report, according to Bitcoin News, the U.S. Commodity Futures Trading Commission (CFTC) has requested a court in Washington, D.C. to dismiss the lawsuit filed by the Chicago Mercantile Exchange (CME) against Kalshi regarding its Bitcoin perpetual futures contract. Kalshi’s cash-settled BTCPERP contract, approved on May 29, has no expiration date, employs a funding rate mechanism, and tracks the spot price of Bitcoin. CME argues that contracts without a delivery date and continuously generating funding payments should be classified as swaps rather than futures. The CFTC responded that CME’s lawsuit is “frivolous” and noted that CME itself could list similar products. Additionally, the CFTC stated that CME’s Bitcoin futures trading volumes in June and August were higher than in May, indicating no significant impact on its business. CME must submit its response by October 2.

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