The lawsuit filed in the District of Columbia alleged that CFTC Chair Michael Selig had acted against the Commodity Exchange Act signed into law by Congress in approving crypto perpetual futures.

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.