Bollcoin reported on October 20, citing CoinDesk, that the U.S. Commodity Futures Trading Commission (CFTC) filed a brief in court last Friday, arguing that CME Group (CME) failed to prove it was harmed by the CFTC's new perpetual contract policy and therefore lacks standing to sue. The CFTC noted that CME's crypto futures trading volume rose rather than fell after the policy change, and that CME had told investors on an earnings call that it saw no demand for perpetual contracts and that the two were not substitutes. In May this year, the CFTC approved Kalshi to launch the first U.S. bitcoin perpetual contract and said it would regulate such products as futures on a case-by-case basis. CME, however, argues that perpetual contracts have no expiration date and should be regulated as swaps. The CFTC asked a judge to dismiss the case last month.