Comment Text:
I believe that prediction markets should be at minimum regulated the same as traditional gambling with criminal penalties for insider trading and odds fixing by the prediction markets.
Honestly the amount of nihilism and corruption that these markets inject into reality with financial incentives for tragedy, death, and violence is appalling. The fact that these markets can be manipulated by wealthy/powerful individuals has been proven time and time again. Threats to journalists over the specific wording of reporting on the war in Iran are well documented. These markets encourage this kind of violence.
I understand that Trump's family has a strong financial incentive to allow these markets as a tool for theft and money laundering so what we say will unlikely influence anything. We are not billionaire. We are not criminals that own and operate these platforms. If the CFTC wishes to act independently of the crime family regime, it will tamp down on the abuses that are foundational to these prediction markets.
