CME Group CEO Duffy said perpetual futures should be classified as swaps under the Dodd-Frank Act, which would form the basis of the lawsuit.

CME Group CEO Terry Duffy plans to sue the CFTC over its approval of Kalshi's bitcoin perpetual futures contract, citing legal and investor protection

Outgoing CME CEO Terrence Duffy said that the exchange operator will sue the CFTC over the agency’s decision to approve perpetual futures.