According to The Block, Andreessen Horowitz submitted an 18-page comment letter to the CFTC on Friday, supporting the federal regulator’s authority over prediction markets and opposing state-level crackdowns. The VC firm argued that cease-and-desist letters and proposed bans from state regulators create a “serious barrier to impartial access” for users and would reduce market liquidity. A16z stated that blocking U.S. users based on state residency conflicts with CFTC fair-access rules. The comment comes as the CFTC has filed lawsuits against Illinois, Arizona, Connecticut, New York, and Wisconsin, arguing they lack jurisdiction over federally regulated markets. In April, prediction markets Polymarket and Kalshi saw their combined lifetime volumes cross $150 billion.
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