The Commodity Futures Trading Commission asked a federal court to dismiss CME Group's lawsuit challenging the agency's approval of Kalshi's cryptocurrency perpetual futures, arguing CME has no standing to claim competitive injury since nothing prevents it from listing similar products.
CME Group introduced two new multi-asset cryptocurrency benchmarks developed with CF Benchmarks, including a 10-token index that excludes Bitcoin and Ether while tracking assets like XRP, Solana, BNB, and Hyperliquid. The indices are free-float market-cap weighted with real-time pricing and multiple settlement variants.
A heated confrontation erupted at a CFTC committee meeting as CME Group Chairman Terrence Duffy questioned prediction market oversight and singled out Kalshi, sparking a public dispute with CFTC officials and Kalshi's COO over how the rapidly growing sector should be regulated. Duffy raised concerns about manipulation vulnerabilities in prediction markets.
A heated confrontation erupted at a CFTC committee meeting as CME Group Chairman Terrence Duffy questioned prediction market oversight and singled out Kalshi, sparking a public dispute with CFTC officials and Kalshi's COO over how the rapidly growing sector should be regulated. Duffy raised concerns about manipulation vulnerabilities in prediction markets.
CME Group CEO Terry Duffy highlighted potential tax implications stemming from an ongoing legal battle over whether perpetual futures contracts should be classified as swaps or futures, a distinction that could affect how the IRS taxes these popular crypto derivatives.
The CFTC and SEC issued a joint request for comment on clarifying definitions of 'swaps' and 'security-based swaps,' including for perpetual futures and event contracts, the same day CME Group announced plans to sue the CFTC over approval of perpetual futures for Kalshi and Coinbase.
