PANews, June 20 — Jake Chervinsky, CEO of the Hyperliquid Policy Center, stated that the CME Group’s lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) is “a shocking misjudgment” and an “unnecessary misstep.” The CME Group, long regarded as the absolute dominant player in the U.S. derivatives market, is now acting in court as a “monopolistic vested interest afraid of competition.” He quoted CFTC Chairman Mike Selig’s view: “Vested interests always fear the future, but the public should not fear vested interests.”

It is reported that the CME Group accounts for approximately 92% of the U.S. exchange-traded derivatives market. This high concentration has led to reduced market choice and rising costs. For a long time, U.S. users have been forced to turn to overseas markets to trade perpetual contracts, while other regions around the world have long offered similar products in their local markets. This spring, U.S. regulators finally opened a compliance pathway for these products, yet they are now attempting to “shut down this channel” through litigation.