Comment Text:
Dear Chairman and Commissioners,
My name is Noah Tapp, and I'm just a regular guy from California writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not an expert or a big-time trader, but Ive got a stake in this as an everyday citizen who believes in economic freedom and the power of free markets. Im new to prediction markets, but I strongly support them and want to see the U.S. take the lead in this space.
I work hard for my money, and I believe I should be able to spend it how I choose. If I want to put some of that money into a prediction market to bet on an election outcome or an economic event that affects my life, thats my call. Im a grown man, and I dont need the government stepping in to over-regulate voluntary contracts between consenting adults. Let free markets do their thing.
What really gets me fired up is the idea of the U.S. falling behind on financial innovation. Weve always been the country that leads the way in new ideas, especially in finance and tech. If we over-regulate or ban prediction markets, were just handing the future to other countries who are happy to step in and build these platforms offshore.
I get that there are concerns about manipulation or insider trading. Those are real issues. But the CFTC already has laws and tools to tackle that stuff. Use them. Dont punish the rest of us by shutting down or over-restricting these markets because of a few bad actors. Thatd be like banning cars because some people speed.
Im asking you to support proportionate regulation of prediction markets. Dont ban them or tie them up in so many rules that only the big players can afford to play. Keep the U.S. competitive, and let regular people like me have a fair shot at participating. Thanks for taking the time to read this.
Sincerely,
Noah Tapp
