RiskReversal Pod The Most Exciting Time In History with CME Group CEO Terry Duffy
Nov 20, 2025
Terry Duffy, the Chairman and CEO of CME Group, talks about the evolution of financial markets and prediction markets at the CME Group Tour Championship. He shares insights on Bitcoin futures and the role of gold in today’s economy. Duffy highlights partnerships with Robinhood and FanDuel, emphasizing the importance of democratizing market access for retail traders. He also discusses the consequences of market concentration, the significance of the 10-year Treasury yield, and the challenges and opportunities that lie ahead in finance.
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Open Markets With Proper Protections
- Give retail traders professional access with appropriate contract sizing and education.
- Teach them risk management tools like stops so they can trade responsibly rather than recklessly.
Partnerships Scale Without Big Price Tags
- Win-win partnerships can scale distribution with minimal cost if the product fits both parties.
- CME paired with FanDuel to reach millions without paying for customer lists.
How CME Launched Bitcoin Futures
- Terry decided to list bitcoin futures quickly after watching market demand and timing.
- He set high margins and controls to 'kill it' if needed while enabling institutional benchmarking.