Comment Text:
Dear Chairman and Commissioners,
My name is Jacqueline Brackeen, and I'm an everyday citizen from Texas 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 for a while now, and I want to express my strong support for well-regulated prediction markets. I believe they serve a real purpose for people like me, and I hope the CFTC will craft rules that protect consumers without shutting down these valuable tools.
Ill admit, I just love betting on outcomes, whether its an election result or an economic indicator. But for me, trading on prediction markets isnt just about the thrill. Its also a practical way to hedge personal financial risks. For example, Ive used Kalshi to place trades on interest rate decisions because they directly affect my mortgage payments and savings plans. Having a way to offset potential losses from things I cant control, like a Federal Reserve move, gives me a bit of peace of mind. I think a lot of regular folks in Texas and beyond could benefit from this kind of access if they knew about it.
What worries me is the idea of over-restricting or banning these markets. Ive seen what happens when things get pushed underground or offshore. Before I found Kalshi, I poked around on some unregulated platforms, and let me tell you, they felt sketchy. No transparency, no accountability. I didnt trust them with my money. A regulated market like Kalshi, under CFTC oversight, is night and day different. Its safer, and I know there are rules in place to protect users. If the CFTC clamps down too hard, people like me will get driven to those offshore sites again, and thats worse for everyone.
I noticed in your questions, specifically Question 7 under Public Interest, youre asking about balancing innovation with consumer protection. I think the answer is clear: keep markets like Kalshi regulated and accessible. Theyre innovative, sure, but theyre also useful for price discovery and managing risk. And on Question 15 about defining legitimate markets versus gaming, Id argue that prediction markets arent just gambling. They take research and real-world knowledge, much like any other investment.
Im asking the CFTC to support proportionate regulation of prediction markets. Dont ban or over-restrict them. Focus on targeted rules to address specific risks like manipulation or insider trading, which you already have tools to handle. Keep these markets safe and open for everyday people like me to use responsibly.
Thank you for considering my input.
Sincerely,
Jacqueline Brackeen
