Hyperliquid Policy Center filed an amicus brief in federal district court in the District of Columbia supporting the CFTC and urging the court to dismiss CME Group’s June lawsuit against the regulator. The brief, written for HPC by Elizabeth Prelogar, argued that a CME victory could allow incumbent firms to sue over every new CFTC-approved product and slow innovation in U.S. futures markets. CME claims perpetual futures would directly compete with its products and harm the exchange, while HPC countered that CME lacks standing on competition and injury grounds and that the CFTC’s decision expands rather than divides the market.