Hyperliquid Policy Center Backs CFTC, Urges Court to Dismiss CME's Perpetual Futures Lawsuit
CME sits 26% above its 52-week low of $218.31 on light trading volume (0.1× avg).
Summary
The Hyperliquid Policy Center filed an amicus brief supporting the CFTC and asking the court to dismiss CME's lawsuit challenging the approval of perpetual futures. The brief argues CME lacks standing and that its legal theory would let incumbents block any new product. This adds a well-credentialed voice against CME in a case that could determine whether perpetual futures trade in the U.S. The filing follows CME's June lawsuit and the CFTC's approval of perpetuals for Kalshi and Coinbase last month. A ruling against CME would open the door for more competition in derivatives.
At the time of this announcement, CME was trading at $275.22 on NASDAQ in the Finance sector, with a market capitalization of approximately $99B. The 52-week trading range was $218.31 to $329.16. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: The Block.