diff --git a/test/functional/test_framework/p2p.py b/test/functional/test_framework/p2p.py
index 7a7cce6176c..fae4eb94c21 100755
--- a/test/functional/test_framework/p2p.py
+++ b/test/functional/test_framework/p2p.py
@@ -740,12 +740,10 @@ class NetworkThread(threading.Thread):
 
         NetworkThread.listeners = {}
         NetworkThread.protos = {}
-        if platform.system() == 'Windows':
-            asyncio.set_event_loop_policy(asyncio.WindowsSelectorEventLoopPolicy())
-        NetworkThread.network_event_loop = asyncio.new_event_loop()
 
     def run(self):
         """Start the network thread."""
+        NetworkThread.network_event_loop = asyncio.SelectorEventLoop() if platform.system() == "Windows" else asyncio.new_event_loop()
         self.network_event_loop.run_forever()
 
     def close(self, *, timeout):
diff --git a/test/functional/test_framework/test_framework.py b/test/functional/test_framework/test_framework.py
index fb0fc0af6b8..95bfc964d60 100755
--- a/test/functional/test_framework/test_framework.py
+++ b/test/functional/test_framework/test_framework.py
@@ -260,7 +260,7 @@ class BitcoinTestFramework(metaclass=BitcoinTestMetaClass):
         self.log.debug('Setting up network thread')
         self.network_thread = NetworkThread()
         self.network_thread.start()
-        self.wait_until(lambda: self.network_thread.network_event_loop.is_running())
+        self.wait_until(lambda: self.network_thread.network_event_loop is not None and self.network_thread.network_event_loop.is_running())
 
         if self.options.usecli:
             if not self.supports_cli: