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A16z backs CFTC against state prediction market bans
A16z backed the CFTC in a prediction market dispute after the agency sued five states over efforts to restrict platforms such as Kalshi and Polymarket. The firm said state-by-state user blocks conflict with the CFTC’s impartial access rules and could reduce liquidity. The letter was filed in response to the CFTC’s proposed rulemaking on prediction markets.