Comment Text:
Dear Chairman and Commissioners,
My name is Luke Leblanc, and I'm a student from Louisiana 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 the development of well-regulated prediction markets. I appreciate the chance to weigh in on how the CFTC approaches this growing space.
As a student, I spend a lot of time studying data, analyzing trends, and trying to understand the world around me. Prediction markets have become a valuable tool for me in that process. They're not just a way to make a few bucks; they give me insights I can't find in news articles or opinion polls. I've seen firsthand how these markets often predict outcomes, like election results or economic shifts, with more accuracy than traditional polls or so-called experts on TV. That kind of information is useful to everyone, not just traders like me. It helps us make sense of uncertain events, and I think that's a public good worth protecting.
What I care about most here is the freedom to participate in legal, regulated markets. I'm not a big institution or a Wall Street insider. I'm just a regular person who wants access to these tools. If prediction markets get overly restricted or banned, that information stays locked up with the powerful players who can find ways around the rules. Letting everyday folks like me trade on platforms like Kalshi makes the system fairer and honestly makes the predictions better because more voices are in the mix. This isn't gambling, either. It takes research and real-world judgment, just like any other kind of investing.
I know there are concerns about things like manipulation or insider trading, and I get that. But the CFTC already has laws and tools to tackle those problems. Banning or over-regulating prediction markets to stop a few bad actors feels like punishing everyone for the actions of a few. Specifically, in response to some of your questions, like those in Topic Area B on public interest (Questions 7-14), I believe the balance should tilt toward innovation and access while using existing safeguards to protect consumers. And on Topic Area E about inside information (Questions 29-32), I think informed traders actually help make prices more accurate, as long as illegal insider trading is policed with the rules already in place.
I urge the CFTC to support proportionate regulation of prediction markets. Don't shut them down or make them so restricted that only the elite can participate. Keep platforms like Kalshi accessible to regular people like me, under clear and fair rules that address real risks without killing the benefits.
Thank you for considering my perspective.
Sincerely,
Luke Leblanc
