Comment Text:
Dear Chairman and Commissioners,
My name is Big Dock Boi Lick My Dock, and I'm writing from New York to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I'm just a regular guy who works hard for my money, and yeah, I enjoy trading on platforms like Kalshi. I know some folks might call it gambling, but I see it as something different, and I want to explain why I support well-regulated prediction markets.
Ive been trading on Kalshi for a while now, and Ive found these markets give me information I cant get anywhere else. Whether its an election or some big public event, the prices on these platforms often predict outcomes better than polls or TV pundits. Thats valuable to me, and I think its valuable to everyone, not just traders. Plus, I use these markets to hedge real risks. Ive got bills to pay, rent to cover, and when Im worried about something like an election outcome affecting my taxes or a policy hitting my wallet, trading on these markets helps me manage that uncertainty.
I get that some people worry about manipulation or insider trading, and Im not blind to those risks. But the CFTC already has tools to handle that. Youve got the power to go after bad actors, and laws already stop federal employees from trading on inside info. Banning or over-restricting these markets doesnt solve the problem; it just pushes folks like me to offshore platforms that arent regulated at all. Id much rather trade on a safe, US-based market like Kalshi than some sketchy site overseas. And honestly, shutting down these markets would punish regular people while the big players find workarounds. Thats not fair.
I also think the US should be leading the way on financial innovation. If we over-regulate or ban prediction markets, other countries will step in and take over. Lets keep this industry here, under your oversight. And please dont call these contracts gaming. Im not rolling dice; Im researching and making informed bets on real-world events, just like I would with stocks or commodities. Its got a real economic purpose, whether its hedging or getting better info out there for everyone.
I noticed a few of your questions in the ANPR that hit on what I care about. For Question 7 on balancing innovation and consumer protection, I think regulation is the answer, not bans. For Question 15 on defining gaming, I strongly believe event contracts arent gambling; theyre useful tools. And for Question 33 on classification, I hope youll treat these as legitimate financial instruments, not something to over-burden with rules.
Ill admit, my wife yells at me sometimes for spending too much on silly contracts, like weird political bets. But thats my choice, and I want to keep making it on a regulated platform. Im asking you to support proportionate rules for prediction markets, not heavy-handed restrictions or outright bans. Keep these markets open, safe, and fair for folks like me.
Thank you for considering my input.
Sincerely,
Big Dock Boi Lick My Dock
