CFTC files court brief to defend prediction markets and signal wider U.S. crypto policy reset

On 17 February, CFTC Chair Mike Selig said the agency filed an amicus brief to defend federal oversight of prediction markets it has treated as derivatives for over two decades. The commission is challenging a wave of state-led litigation, arguing these markets fall under federal commodities law and tying this stance to a broader shift in U.S. crypto policy.