a16z Backs Unified CFTC Oversight of Prediction Markets in Comment Letter

Prediction markets allow users to trade on the outcomes of elections, sporting events and other events. Platforms including Kalshi and Polymarket argue that these “event contracts” are derivatives and should be governed nationwide by the U.S. Commodity Futures Trading Commission under federal law. Whether state gambling laws may also apply could affect equal access across the country, market liquidity and regulatory consistency.

Andreessen Horowitz, or a16z, submitted an 18-page comment letter to the CFTC on April 30, 2026, supporting the regulator's exclusive jurisdiction. It said bans and cease-and-desist orders in states including Illinois and Arizona would fragment the market. a16z also argued that onchain trading supports real-time monitoring and price discovery. The letter disclosed no investment or transaction amounts.