According to The Block, Andreessen Horowitz submitted an 18-page comment letter to the CFTC on Friday, supporting federal oversight of prediction markets and arguing that state-level regulations create barriers to fair market access. The VC firm said that cease-and-desist letters and proposed bans from state regulators against platforms like Kalshi and Polymarket are creating a “serious barrier to impartial access” for users. A16z wrote that requiring exchanges to block users based on their state of residence conflicts with CFTC rules on fair market access and will “likely severely circumscribe available liquidity.”
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