The CEO of CME Group expressed "great concern" about the new perpetual contracts.

CoinFeed reported on June 5th, citing Bloomberg, that CME Group CEO Terry Duffy expressed "deep concern" about the recent approvals of perpetual contracts by US regulators. Duffy stated that perpetual contracts offer little practical use for institutional investors while subjecting retail traders to excessive risk. He expressed "complete disagreement" with the CFTC's decision to approve the first batch of crypto perpetual contracts after a swift review, and said he had contacted the CFTC chairman to express his concerns. Duffy warned that perpetual contracts and prediction markets are fueling a retail speculation frenzy, reminiscent of risky behavior before the 2008 financial crisis: "The housing market has been replaced by a speculative market, and this could be an impending disaster." The first perpetual contracts approved by the CFTC were listed on Kalshi, and several other US exchanges are also discussing launching their own perpetual contracts.