Comment Text:
Prediction markets are literally unregulated gambling. There is no justifiable explanation for why they should be permitted to sidestep gambling regulations by just talking about themselves using different terms. They talk about insider trading as though it is a feature, not a bug. They pretend you are betting against other users when in fact you could be betting against them or one of their market makers, who get tools to provide better odds of success.
The CFTC has no business regulating these entities, as they do not actually sell futures but offer gambling. They should be regulated by the same oversight groups that the gambling industry answers to.
