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Jake Chervinsky, lawyer, head of policy at Variant Fund and Blockchain Assoc., argues that onchain prediction markets are superior to traditional ones.
He highlights a recent comment letter filed by HyperliquidPC with the CFTC, urging the regulator to establish rules that provide a pathway for U.S. users to access these blockchain-based prediction products.
Chervinsky has previously stated that DeFi communities are focusing on protocol security, transparency, and resilience, rather than relying on government bailouts. In his analysis, DeFi market participants are addressing challenges independently. Further details can be found in his comments on DeFi security and resilience.