They supported the Commodity Futures Trading Commission (CFTC), stating that such measures could deplete liquidity and limit market accessibility. According to The Block, a16z submitted an 18-page opinion letter to the CFTC on the 1st (local time), pointing out that actions by state government regulatory authorities regarding prediction market platforms (such as cease and desist orders and prohibition proposals) are creating barriers that hinder users' fair access to the market. The firm stated, "Restricting US users' access to exchanges based on their state of residence conflicts with CFTC rules on fair market access," adding, "Blockchain-based prediction markets have higher transparency than existing platforms. The possibility of on-chain transaction auditing makes it easier for investors and regulators to monitor."
