Comment Text:
I'm writing to VERY STRONGLY urge the Commission to take STRONG regulatory action regarding event contract derivatives traded on prediction markets. Current trajectory of prediction markets raises very serious concerns about market integrity, insider trading & commodification of events that should remain OUTSIDE the realm of financial speculation! Event contracts that allow wagering on military operations, foreign policy decisions, terrorism, assassination, or other government actions create TOTALLY UNACCEPTABLE RISKS because individuals with nonpublic info about those decisions have both the opportunity & financial incentive to SHAMEFULLY exploit that info! When citizens perceive government decisions may be influenced by private financial interests, it SERIOUSLY ERODES PUBLIC TRUST!
I respectfully submit the Commission should explicitly PROHIBIT event contracts related to military operations, acts of war, terrorism, political assassinations & non-financial government policy decisions as contrary to the public interest, PLEASE! Plus, any event contract where the outcome can be known in advance or controlled by a specific individual or small group is RECKLESSLY INHERENTLY SUSEPTIBLE TO MANIPULATION & should face a presumption against approval. This includes award show results, political speeches, corporate announcements & any event where insiders have definitive advance knowledge.
The Commission has both the authority & responsibility under the Commodity Exchange Act to PLEASE ESTABLISH CLEAR PROHIBITIONS on event contracts that're contrary to the public interest. I respectfully request the Commission PROHIBIT these dangerous categories of event contracts, strengthen surveillance & enforcement mechanisms to detect insider trading, & prioritize market integrity & public welfare over industry growth! Financialization of every aspect of human life, including war, death, & governance, should NOT proceed without meaningful guardrails, & the Commission's action on this rulemaking will signal IF our regulatory framework prioritizes public welfare or permits commodification of matters that should remain beyond the reach of financial speculation!!
