On July 27, the Hyperliquid Policy Center (HPC) and Multicoin Capital jointly submitted comments to the U.S. Commodity Futures Trading Commission (CFTC) in support of its proposed regulatory framework for prediction markets. The two parties stated that prediction markets have reached significant scale, with trading volumes exceeding $50 billion on major platforms in June. HPC and Multicoin believe that prediction markets should be uniformly regulated by the CFTC to avoid fragmented oversight from various state gambling regulations. They proposed three recommendations: establish clear regulatory rules to reduce market uncertainty; confirm the CFTC as the sole federal regulatory authority for prediction markets; and publicly disclose contract review decisions and related rationale to enhance market transparency. Additionally, Hyperliquid indicated its support for outcome-based contracts, which are fundamental components of on-chain prediction markets. This related market launched in May and has recently seen its open interest reach an all-time high. Both parties believe that a technology-neutral and unified federal regulatory framework will promote the healthy development of on-chain prediction markets and derivatives markets.