The U.S. Commodity Futures Trading Commission has asked a judge to dismiss CME’s lawsuit challenging the regulator’s approval of Kalshi’s Bitcoin perpetual contract, Decrypt reported. The CFTC argues that CME cannot bring the challenge without demonstrating concrete financial harm. The filing places the dispute’s focus on whether CME has established sufficient grounds to contest the approval, rather than on the contract’s market performance or Bitcoin’s price. Kalshi’s product is a Bitcoin perpetual contract, while CME is seeking to challenge the CFTC’s decision to approve it. The court must now consider the regulator’s request to end the lawsuit. The development is relevant to the regulatory treatment of crypto-linked derivatives and the competitive landscape for Bitcoin-based trading products.
