Kalshi's perpetual futures product did not meet the Dodd-Frank Act's definition of a "swap" and should not have been approved, Terrence Duffy said.

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.