📰 【a16z backs the U.S. Commodity Futures Trading Commission and opposes a series of suppression actions by states against prediction markets】

BlockBeats reports that on May 2, venture capital firm a16z supported the U.S. Commodity Futures Trading Commission (CFTC), opposing a series of suppression actions by states against prediction markets. On Friday, a16z submitted an 18-page comment letter to the CFTC, saying that the actions taken by state regulators against prediction market platforms—including cease-and-desist and termination orders, as well as proposed bans—are creating "serious barriers to fair access" for users. In just the past month, the CFTC has filed a series of lawsuits against Illinois, Arizona, Connecticut, New York, and Wisconsin, arguing that these states are trying to regulate markets that are overseen by the federal government, and that such efforts fall outside their jurisdiction. a16z argues that...

I’ll be damned, bro! These a16z old foxes have finally done something meaningful! Those state bureaucrats—bunch of bumpkins—can’t even figure out the root of retail investors, yet they want to control prediction markets? Damn it, they want to shut down every prediction track like $POLY and $SNX, so that Wall Street can keep on cutting retail investors to shreds! At least the CFTC knows some rules, but the states are just a pack of hungry wolves, watching the crypto space and looking to pick easy gains! If these people really manage to get their way, we small retail investors won’t even have a place to make legal bets—everything will be in the hands of those dog-whales! The sky is falling, family—everyone keep your eyes on $BTC
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