Comment Text:
Dear Chairman and Commissioners,
My name is Toni Williams, and I'm just an everyday citizen from Texas writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've used prediction markets a few times, and I believe theyre a valuable tool that deserves fair and balanced regulation, not heavy-handed restrictions.
I support well-regulated prediction markets because they provide information you can't find anywhere else. I've seen firsthand how their forecasts often beat out polls or TV pundits when it comes to predicting election outcomes or economic trends. That kind of accuracy helps everyone, not just traders like me. Its also about freedom. As a regular person, I appreciate being able to participate in legal, regulated markets. If only big institutions get access, all that useful information stays locked away with them. Letting everyday folks like me take part feels fairer, and I think it makes the markets predictions sharper too.
Im worried, though, about what happens if these markets get banned or over-restricted. Ive heard about unregulated offshore platforms, and they dont seem safe at all. A regulated market like Kalshi, under CFTC oversight, gives me confidence that there are rules in place to protect users. If you push these markets underground by banning them, people will still trade, just in riskier places. That doesnt solve any problems; it makes them worse.
I also want to address some of the concerns Ive read about, like insider trading or manipulation. I get that those are real issues, but banning whole markets isnt the answer. The CFTC already has tools to go after bad actors, and federal employees are already barred from trading on inside info. Focus on enforcing those rules instead of punishing everyone. Plus, I think informed trading actually helps. When people who know what theyre talking about trade, it improves the prices and makes the forecasts better for all of us.
Looking at some of the specific questions in the ANPR, Id like to weigh in on a couple. For Question 7 under Public Interest, I believe prediction markets serve a clear public good by providing accurate forecasts, and regulation should balance that with consumer protection, not stifle it. On Question 29 under Inside Information, I think informed traders often make the market more accurate, and the focus should be on punishing illegal behavior, not restricting access.
I urge the CFTC to adopt proportionate, targeted rules for prediction markets. Address specific risks with specific solutions, not broad bans that hurt regular people like me. Lets keep these markets regulated, safe, and open to everyone.
Thank you for considering my input.
Sincerely,
Toni Williams
