Comment Text:
Dear Chairman and Commissioners,
My name is Chase Meintz, and I'm just a regular guy from Michigan who wants to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I've been trading on platforms like Kalshi for a while now, and I can honestly say it's been a game-changer for me. I'm writing to support well-regulated prediction markets and to ask that you don't over-restrict or ban them.
I love using Kalshi. Not only does it let me make a little extra cash on the side, but it also helps me hedge against financial risks that hit close to home. For example, Ive placed trades on economic events like inflation numbers because they directly affect my budget for groceries and bills. It's not gambling to me; it's a way to protect myself and make informed decisions based on research and real-world events. Plus, the forecasts on these markets are often way more accurate than what I hear from polls or pundits on TV. That kind of information is valuable to everyone, not just traders like me.
I think the US should be leading the charge on financial innovation, not letting other countries take the wheel. Platforms like Kalshi, which are regulated by the CFTC, are a much safer bet than unregulated offshore sites. If you crack down too hard, people will just go to those sketchy platforms instead, and thats worse for everyone. I also believe the CFTC already has solid tools to handle issues like manipulation and insider trading. You dont need to ban whole categories of contracts; just use whats already in place to target bad actors. And honestly, when informed traders participate, it makes the prices more accurate, which helps all of us get better information.
Looking at some of the specific questions in the ANPR, I want to address a few points. On Questions 7-14 about public interest, I think prediction markets balance innovation and consumer protection when theyre regulated properly, like Kalshi is. For Questions 29-32 on inside information, Id say informed trading isnt a bad thing; it improves price discovery, and existing laws already ban federal employees from abusing nonpublic info. And on Questions 23-28 about procedures, I believe the CFTC should focus on proportionate rules for specific risks instead of broad bans.
Im asking you to support prediction markets with targeted, fair regulation. Dont shut them down or make them impossible for regular folks like me to use. These markets give us a voice, help us manage risk, and provide information we cant get anywhere else. Please keep the US at the forefront of this space.
Sincerely,
Chase Meintz
