A16z sides with CFTC against states seeking to ban prediction markets

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Kalshi and Polymarket trading volume. Source: Token Terminal The letter arrives amid the growing popularity of these platforms. As Cointelegraph reported, monthly trading volume reached $25.7 billion in March, with more than 80% of users classified as retail, defined as those trading less than $10,000. Related: Kalshi, Polymarket among 27 prediction platforms banned in Brazil Polymarket is in talks with the CFTC to lift the ban that has kept American users off its main platform since a 2022 settlement, in which the company paid a $1.4 million penalty and agreed to block US customers over unregistered event contracts. A full return would require a formal commission vote, though the process may move faster given that four of the CFTC's commissioner seats are currently vacant. Magazine: How to fix suspected insider trading on Polymarket and Kalshi

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