Hyperliquid Policy Center (HPC) and Multicoin support CFTC's predictive market regulatory framework

On July 27, the Hyperliquid Policy Center (HPC) and Multicoin Capital jointly submitted an opinion to the U.S. Commodity Futures Trading Commission (CFTC) in support of its proposed regulatory framework for the forecasting market. Both parties said they forecast that the market has reached a large scale, with transaction volume on major platforms exceeding US$50 billion in June. HPC and Multicoin believe that the forecasting market should be uniformly regulated by the CFTC to avoid decentralized regulation by state gaming regulations. The two sides put forward three suggestions: formulate clear regulatory rules to reduce market uncertainty; confirm the CFTC as the single federal regulatory agency for predicting the market; and disclose contract review decisions and related basis to improve market transparency. In addition, Hyperliquid said it already supports result-based contracts, which are a fundamental part of the on-chain forecasting market. The relevant market went online in May, and the recent open interest volume reached a record high. Both sides believe that a technologically neutral and unified federal regulatory framework will promote the healthy development of the on-chain forecasting market and derivatives market.