A16z Backs CFTC in Fight Against State Prediction Market Bans
Cointelegraph
Venture capital firm A16z is supporting the CFTC in its legal battle against states attempting to prohibit prediction market platforms like Kalshi and Polymarket.Summary
A16z has filed a letter supporting the Commodity Futures Trading Commission (CFTC) against U.S. states seeking to ban prediction markets. The firm argues that state-level interventions, such as cease-and-desist orders, infringe upon federal jurisdiction and violate the CFTC’s mandate for impartial market access. A16z contends that the CFTC maintains exclusive authority to define "gaming" under federal commodities law and emphasizes that prediction markets provide valuable price discovery and "crowd intelligence." This support arrives as platforms like Kalshi and Polymarket face increasing regulatory scrutiny, with Polymarket currently negotiating with the CFTC for a potential return to the U.S. market.
(Source：Cointelegraph)