CME's Terry Duffy on the Disconcerting State of Finance Regulation

Terry Duffy, outgoing CEO of CME Group, reflects on his nearly five-decade career at the exchange, spanning the early days of the CFTC to the emergence of prediction markets, 24/7 trading, and perpetual futures. He explains his opposition to perpetual futures, flags credibility challenges facing prediction markets, and offers his distinction between spreads and futures. The live-recorded exit interview captures a veteran's view of how finance regulation has transformed.