Comment Text:
Dear Chairman and Commissioners,
My name is Ramiro Mejia, and I'm a student from Nevada writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not a financial expert or a lawyer, just a young person who sees real value in these markets, both for learning and for practical use. I want to support the idea of regulating prediction markets in a fair and balanced way, without banning or overly restricting them.
As a student, Im excited about prediction markets because theyre a hands-on way to learn about economics, data, and how people value information. Ive used platforms like Kalshi to hedge personal risks tied to economic events, like inflation data that affects my budget for school and living costs. Its not gambling to me; its a tool to manage uncertainty, much like someone might use insurance. More than that, I believe these markets can be the future for students like me to engage with real-world issues, share ideas, and understand how markets reflect what people think.
Im especially impressed by how prediction markets often forecast outcomes more accurately than polls or pundits. Ive seen this firsthand during election cycles, where the odds on these platforms cut through the noise of opinion pieces and give a clearer picture of what might happen. This isnt just useful for traders; its valuable for everyone, from journalists to regular citizens trying to make sense of public events. Why would we shut down something that helps us understand the world better?
I also worry that banning or over-restricting these markets would push activity to unregulated offshore platforms. Id much rather use a regulated U.S. market like Kalshi, where there are rules and oversight, than take my chances with some sketchy overseas site. If the CFTC cracks down too hard, its not going to stop people from participating; its just going to make it less safe for folks like me who want to do this legally.
Looking at some of the questions in the ANPR, I think Question 7 about balancing innovation and consumer protection hits the nail on the head. I support innovation that lets regular people like me participate in these markets, with smart rules to keep things fair. And on Question 15, about defining whats legitimate versus gaming, Id argue that hedging risks and forecasting events have real economic purpose, not just entertainment value.
I know there are concerns about insider trading or manipulation, and I get that. But those are already illegal, and the CFTC has tools to enforce the law. Dont punish the rest of us by limiting access to these markets. Im asking you to support proportionate regulation that keeps prediction markets open and safe for everyone, without heavy-handed bans or restrictions.
Thank you for considering my perspective.
Sincerely,
Ramiro Mejia
