CME Group CEO Terry Duffy called the U.S. launch of regulated perpetual futures a “disaster waiting to happen,” warning of risks to retail investors and the financial system. Speaking at the Piper Sandler conference, Duffy criticized the CFTC’s fast approval of the products, highlighting their high leverage and complexity. Perpetual futures offer 50x leverage, no expiration, and opaque funding rates, which can lead to automatic liquidation. The CFTC approved the first regulated perpetual futures on May 29, with Kalshi launching Bitcoin and Ethereum contracts soon after. Eleven more, including Solana and Dogecoin, are pending. Coinbase and Kraken are also entering the market, with Coinbase linking to Deribit and Kraken planning perps…