Comment Text:
I am writing to express my concern regarding the proliferation of prediction markets and the apparent lack of regulation. The CFTC guidelines state that certain activities should not appear on such markets, such as war, illegal activities, etc., however, events such as nuclear detonation and other devastating humanitarian tragedies regularly appear. I cannot know whether this reflects a lack of motivation to enforce the guidelines in place, or the vagueness and uselessness of such terms and restrictions. Either way, it's simply not enough. It is my opinion that the only way to protect against misuse of these markets is to deem them illegal. I cannot imagine a reality in which the existence of such would benefit humanity or contribute to a public good. The potential for abuse and insider trading amongst the elites is unfathomable, not to mention the emotional detachment and loss of empathy tying one's livelihood to others' misfortune would produce in the common person. These activities should not be tolerated or normalized in our country, and I believe I am in the majority for saying so.
