CFTC received over 1,500 comments on its prediction markets rule, with firms backing its authority as state regulators push for tighter control.

Coinbase told the CFTC in an April 30 letter that prediction markets fall under existing rules, urging clarity on how event based contracts will be regulated.

A16z backs the CFTC against state bans on prediction markets as Congress limits lawmakers’ trades and Kalshi, Polymarket face more scrutiny.