Multicoin Capital partners with Hyperliquid to back CFTC prediction market framework

Multicoin Capital and the Hyperliquid Policy Center just filed a joint comment letter to the CFTC, backing the agency’s proposed framework for regulating prediction markets. The filing, submitted on July 27, advocates for the CFTC to be the sole federal cop on the beat for these contracts, using the Commodity Exchange Act as its badge. Kyle Samani, who co-founded Multicoin Capital and departed the firm in early February 2026, has publicly criticized Hyperliquid. Meanwhile, the firm he built reportedly holds over $40 million in HYPE tokens. The strategic arm is zigging while the departed founder zags. What the letter actually says The joint comment targets the CFTC’s proposed Regulation 40.11, a framework designed to bring some order to the prediction market Wild West. The letter makes three core arguments. First, prediction markets should fall under exclusive federal oversight through the Commodity Exchange Act. No patchwork of state regulations, no jurisdictional turf wars. One regulator, one rulebook. Second, the CFTC should use a “settlement-based assessment” to figure out what activities these contracts actually involve. In English: regulators should judge these products by how...