According to CoinMeta, the U.S. Commodity Futures Trading Commission (CFTC) applied to a federal court on September 2 to dismiss a lawsuit filed by the CME group against the CFTC's regulatory treatment of cryptocurrency perpetual contracts as futures. CFTC argues that such contracts lack legal status, as exchanges can list perpetual futures under the same regulatory policies that they are challenging. CME filed a lawsuit in the District Court of Columbia on June 18, seeking to overturn the CFTC's approval of Kalshi's bitcoin perpetual contracts. The CFTC's rejection of the lawsuit represents the regulator's position, and the court has not yet made a ruling on this motion. CME claims that the CFTC's decision gives new exchanges an unfair competitive advantage by allowing them to offer perpetual contracts under the futures framework. CFTC countered that CME is also a designated contract market and can apply to list perpetual futures as well. CFTC also noted that the trading volume of bitcoin and Ethereum futures on CME exceeded that of May in June and August. CME must submit objections to the rejection motion by October 2.