CME Group CEO Terry Duffy has voiced strong opposition to the recent approval of crypto perpetual contracts by US regulators. Duffy criticized the CFTC's decision, arguing that these contracts pose significant risks to retail traders and offer limited benefits to institutional investors. He expressed concerns that the approval process was too rapid and has contacted the CFTC chairman to discuss his objections. Duffy warned that the rise of perpetual contracts and prediction markets could lead to speculative behavior similar to that seen before the 2008 financial crisis. He highlighted the potential for these markets to create a speculative frenzy, likening it to the housing market bubble. The CFTC recently approved the first perpetual contracts, which were listed by Kalshi, with other US exchanges considering similar offerings.