Hyperliquid and Multicoin Back CFTC Prediction Market Rules

Joint letter urges federal CFTC oversight for prediction markets to prevent state-level gambling classifications and ensure regulatory stability across administrations.

Woofun AI reports that Hyperliquid Policy Center and Multicoin Capital submitted a joint comment letter supporting the U.S. CFTC’s proposed regulatory framework for prediction markets. The entities advocate for clear standards in legal text to prevent regulatory reversals during changes in administration, emphasizing federal oversight by the CFTC over state-level treatment as gambling. They further recommend using settlement-based interpretations to assess contracts involving sensitive areas like war or gambling, alongside public disclosure of decision reasoning.