According to a16z, the venture capital firm submitted an 18-page comment letter to the Commodity Futures Trading Commission on Friday, May 2, supporting federal oversight of prediction markets and opposing state-level restrictions. A16z argued that cease-and-desist letters and proposed bans by state regulators create a “serious barrier to impartial access” for users and conflict with CFTC rules on fair market access.
Polymarket and Kalshi’s combined lifetime trading volumes crossed $150 billion in April, amid the ongoing regulatory clash between federal and state authorities over jurisdiction.
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