The criticism followed a Multicoin Capital and Hyperliquid Policy Center filing backing sole CFTC oversight of exchange-traded prediction markets under a single federal framework.
Forward Industries (FWDI) chairman Kyle Samani publicly accused Multicoin Capital of working against Solana builders after Multicoin and the Hyperliquid Policy Center filed a joint submission supporting the U.S. Commodity Futures Trading Commission as the sole federal regulator for exchange-traded prediction markets. Samani, identified in the existing record as a co-founder of Multicoin Capital and described there as the largest corporate accumulator of Solana (SOL) through DAT, stepped back from Multicoin’s management in February 2026 but remains a prominent voice in the Solana ecosystem. The filing argued that prediction markets should sit under one federal regime run by the CFTC rather than a mix of state gambling laws or other interventions, and called for clearer, more transparent contract approval standards that can survive political transitions. Samani cast that position as conflicting with the permissionless, censorship-resistant ethos many Solana developers associate with open onchain markets. The dispute highlights a broader tension in crypto between venture firms seeking regulatory clarity and builders who prioritize unlicensed, composable financial infrastructure. Samani also separately rejected speculation by crypto journalist Laura Shin, saying his departure from Multicoin had nothing to do with Hyperliquid.