CME Group plans to sue the CFTC over crypto perpetual futures approvals after spending eight months preparing the challenge with its board. Terrence Duffy said the case could be filed as soon as Thursday and would argue that perpetual contracts should be regulated as swaps under the Dodd-Frank Act. The dispute targets Kalshi's Bitcoin-linked BTCPERP approval and a parallel action clearing Coinbase to route U.S. customers to Deribit.