Venture capital firm a16z has submitted a comment letter supporting the Commodity Futures Trading Commission's (CFTC) exclusive jurisdiction over prediction markets. The firm criticized state-level regulations for undermining users' "fair access" and market liquidity. a16z highlighted the high on-chain audit transparency and price discovery utility of blockchain-based prediction markets. Recently, the CFTC has taken legal action against states like New York for attempting to regulate prediction markets beyond their authority.