Comment Text:
Dear Chairman Selig,
I am writing as a professional prediction market trader to offer my perspective on the Commission’s ongoing rulemaking regarding event contracts. I believe that a robust, federally regulated prediction market ecosystem provides significant public utility by generating high-integrity, transparent data that complements traditional information sources.
These markets serve a vital role in institutional accountability. By providing a financial incentive for accuracy, they offer a neutral benchmark that helps the public navigate complex political and geopolitical landscapes. For many participants, including myself, the information provided by these markets is a tool for informed decision-making and personal risk management in an increasingly volatile global environment.
I specifically chose to engage with CFTC-regulated platforms like Kalshi because I value the federal oversight and consumer protections they provide. I do not utilize unregulated or offshore platforms, as I believe the lack of transparency and legal recourse in those venues poses a risk to both individual participants and the broader financial system. A single, consistent federal standard is essential for ensuring that these markets operate fairly across state lines, much like the SEC protections I rely on for equities trading.
I strongly urge the Commission to establish clear compliance and enforcement standards. Strengthening market integrity through rigorous oversight is the best path to fostering innovation while protecting the public interest. I would welcome further efforts to expand these platforms in a way that provides more sophisticated hedging tools and reliable data for all Americans.
Respectfully,
Nicholas Jager
