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CFTC chair cites amicus brief defending prediction markets from state challenges
CFTC chair Michael Selig said the agency filed an amicus brief to protect its exclusive authority over prediction markets and cautioned that state-level challenges would be met in court. His comments accompanied ongoing state actions targeting event-contract platforms, a Wall Street Journal op-ed he authored, a letter from 23 senators urging restraint, and a November court hearing he referenced.
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Dragonfly closes fourth $650M crypto fund to back tokenized real-world assets and finance infrastructure
Dragonfly Capital has closed its fourth crypto-focused investment fund, securing $650 million for projects centered on tokenized real-world assets and financial infrastructure. The firm plans to back blockchain-based payments, lending, stablecoin systems and traditional-style financial products such as card-like services and money market-style funds. The new raise comes after a period of reduced crypto venture activity and a shift in capital flows toward more mature companies accessing public markets.
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Logan Paul's tokenized Pikachu card sells for $16.49M as Gemini reshuffles leadership and Strategy adds 2,486 BTC
A.J. Scaramucci purchased Logan Paul's previously tokenized PSA 10 Pikachu Illustrator card for $16.49 million, setting a record for a trading card sale. Gemini is parting ways with its COO, CFO and CLO effective Feb. 17 amid restructuring, while Michael Saylor's Strategy acquired 2,486 bitcoin for $168.4 million, and a global study reports $300 billion in stablecoins are increasingly used as everyday money. DeFi lender ZeroLend is shutting down after a 98% TVL drop as macro data and central bank events line up over the next 24 hours.
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CFTC Chair Selig Asserts Sole Federal Authority Over U.S. Prediction Markets in Amicus Filings
On February 17, 2026, CFTC Chair Michael Selig highlighted that the Commodity Futures Trading Commission has submitted amicus briefs in more than 50 active U.S. court cases to affirm its sole federal authority over prediction market regulation. Selig pointed to over two decades of CFTC oversight of event contracts and described their risk‑hedging and informational value, while Ethereum co‑founder Vitalik Buterin warned that many prediction platforms now prioritize low‑value speculative activity over broader societal insight.
1d ago