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CME Sues CFTC Chair Over Crypto Futures Approvals

6/19/2026

28 6 Full Breakdown

Summary

CME Sues CFTC

CME Group sued the CFTC and chair Michael Selig in D.C. court to void crypto perpetual futures approvals.
The suit challenges the CFTC’s May 29 notice approving a futures product for Kalshi and granting no-action to Coinbase.
CME says Selig acted alone without the five-member commissioner panel, breaching the Commodity Exchange Act and congressional intent.
A CFTC spokesperson called the lawsuit frivolous and termed CME’s tactic “law-fare.”

Summary

CFTC Approves Bitcoin

The CFTC approved bitcoin perpetual contracts on May 29, the first U.S. regulatory clearance, shifting the product from offshore to domestic venues.
CME Group’s stock fell after the approval, with Cboe and ICE shares also dropping.
Kalshi’s bitcoin perpetual contracts generated more than $5.5 billion in trading volume within days of launch.
Perpetual futures may offer leverage up to 50-to-1, far higher than CME’s typical limits.

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CME Sues CFTC

CME Group sued the CFTC and chair Michael Selig in D.C. court to void crypto perpetual futures approvals.
The suit challenges the CFTC’s May 29 notice approving a futures product for Kalshi and granting no-action to Coinbase.
CME says Selig acted alone without the five-member commissioner panel, breaching the Commodity Exchange Act and congressional intent.
A CFTC spokesperson called the lawsuit frivolous and termed CME’s tactic “law-fare.”

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