CME's recent moves are quite interesting; they claim to protect investors, but in reality, aren't they worried about Kalshi stealing their business? Traditional finance's anxiety about the crypto market can't be hidden anymore.

According to Crypto World, CME Group has announced that it will sue the Commodity Futures Trading Commission (CFTC) because the CFTC approved Kalshi’s bitcoin perpetual futures. CME believes that the approved perpetual futures should be regulated as swaps under the relevant laws. CME CEO Terry Duffy said the purpose of the lawsuit is to protect investors, but critics believe it reflects traditional finance’s resistance to competition from the ever-growing crypto market. Duffy pointed out that perpetual futures are different from traditional futures contracts: they have no expiration date, which allows traders to hold positions indefinitely. He warned that perpetual futures entering the U.S. market could bring new risks to retail investors.