CME Group CEO Terry Duffy is set to step down; CME Group shares fall 4% in pre-market trading

The CEO of a certain exchange, Terry Duffy, is about to step down, and the exchange's stock price fell 4% in pre-market trading. Terry Duffy expressed concerns about perpetual contracts recently approved by U.S. regulators, stating that perpetual contracts have almost no practical use for institutional investors and expose retail traders to excessive risk. He disagreed with the Commodity Futures Trading Commission (CFTC)'s decision to approve the first batch of crypto perpetual contracts, warning that perpetual contracts and prediction markets are fueling a frenzy of speculation among retail investors.