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CME Group Lawsuit Against CFTC May Hinge on Whether Perpetual Futures Qualify as Futures, TD Cowen Says

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2026-06-19 18:33:40
CME Group may have a stronger legal position in its lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) over approval of U.S. perpetual futures, according to a TD Cowen analysis.

According to NS3.AI, TD Cowen analyst Jaret Seiberg said the dispute could ultimately depend on whether perpetual futures can legally be classified as futures contracts.

Seiberg said the case may turn on that classification question as the central issue in determining the outcome of the lawsuit.
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