Comment Text:
Dear Chairman and Commissioners,
My name is Dylan Mills, and I'm just a plumber from Washington state writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been actively trading on platforms like Kalshi, and I strongly support well-regulated prediction markets in the US. Im not a lawyer or a policy expert, just someone who sees real value in these markets and wants to make sure they arent banned or over-restricted.
Ill be straight with you. Living in Washington, which Ill bluntly call a miserable, over-regulated place, trading on Kalshi gives me a small bit of hope and happiness. Its not just about making a buck. Its about having access to information thats better than what polls or pundits spit out. Ive seen prediction markets get election calls or economic trends right when everyone else was clueless. Thats useful to me, and I think its useful to the public too, for making decisions or just understanding whats coming. Why would we shut down something that gives us clearer insight?
Heres the thing that gets me fired up. If platforms like Kalshi get banned or choked with rules, people like me arent going to stop trading. Well just go to some sketchy offshore site where theres no oversight at all. Thats not safer for anyone. Id rather keep my money in a regulated US market where the CFTC can step in if somethings fishy. You already have tools to stop manipulation and insider trading in other markets. Use them here too. Dont punish regular folks like me by pushing this stuff overseas. The US should be leading on financial innovation, not handing the whole game to other countries.
I also dont buy the idea that event contracts are just gambling. Trading on Kalshi takes research and judgment, same as stocks or commodities. Its not a slot machine. I use it to hedge risks that matter to me, like election outcomes that could mess with my taxes. Calling this gaming feels like a cheap way to dismiss a legit tool. Plus, informed traders make the prices better for everyone. Thats not a bug, its a feature.
I looked at some of your questions in the ANPR, like numbers 7 and 8 on balancing innovation and consumer protection, and number 15 on defining gaming. My take? Protect consumers by regulating smartly, not by banning whole categories. Focus on specific risks like manipulation with targeted rules. Keep platforms like Kalshi legal and under your watch. Dont drive us offshore.
Im asking you to support proportionate regulation of prediction markets. Let regular people like me keep participating in a legal, safe way. Dont over-restrict or ban something thats working for us and could be a real asset for the country.
Thank you for considering my input.
Sincerely,
Dylan Mills
