CME's boss personally steps in to pour cold water; can retail investors really play with perpetual contracts?

According to Bloomberg, CME Group CEO Terry Duffy stated that he is "very concerned" about the recent approval by U.S. regulators for perpetual futures contracts, believing that such contracts have limited practical use for institutional investors but may expose retail investors to excessive risk. Duffy said he has "serious concerns" about the design of these contracts and disagrees with the CFTC's approval of the first perpetual contracts linked to cryptocurrency prices. The first perpetual contracts approved by the CFTC have been launched by Kalshi. Duffy also mentioned that perpetual contracts and prediction markets reflect a broader retail speculation frenzy and compared it to the risky behaviors seen before the 2007 and 2008 financial crises.