[CoinDesk] Crypto teams up with U.S. government to defend stock perps in legal fight

Crypto and prediction-market firms have backed the U.S. Commodity Futures Trading Commission in its legal dispute over whether perpetual futures on stocks count as swaps, siding with the regulator against challengers to the products. The joint stance targets the classification question at the center of the case, which determines whether stock perpetuals fall under CFTC oversight or a different regulatory regime. The outcome matters because a swaps designation could reshape how these products are offered and traded in the U.S. market.