Comment Text:
Dear Chairman and Commissioners,
My name is Dylan Diebold, and I'm a regular citizen 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 a financial expert or a lawyer, just someone who has found value in trading on regulated prediction markets like Kalshi, and I want to urge the CFTC to support fair and proportionate regulation of these markets rather than overly restrictive rules or bans.
I started trading on Kalshi a while back because I wanted a way to engage with events that affect my life, like elections or economic data releases. These markets give me insights I cant find anywhere else, often more accurate than news pundits or polls. Its not gambling to me; its about researching, thinking critically, and making informed decisions, just like I would with any investment. I believe allowing everyday people like me to participate makes these markets stronger and fairer. If only big institutions could trade, all that valuable information would stay locked up with them, and thats not right.
What I care about most is the freedom to participate in legal, regulated markets. Platforms like Kalshi, which operate under CFTC oversight, provide a safe space for people like me to trade. Ive looked at some offshore, unregulated platforms, and theyre a mess. No protections, no transparency, and no accountability. If the CFTC clamps down too hard on regulated markets, I worry itll push people toward those unsafe alternatives. Thats not protecting consumers; its putting us at greater risk. I think the CFTC should focus on keeping regulated markets accessible while using the tools you already have to stop manipulation or insider trading, which are already illegal.
I noticed a few questions in the ANPR that relate to my concerns, like Question 7 on balancing innovation with consumer protection and Question 23 on how public interest determinations are made. My view is simple: innovation like prediction markets benefits regular people when its regulated properly. Dont shut it down because of a few bad actors. Focus on enforcing existing laws and set rules that keep markets like Kalshi safe and open to everyone. Over-regulating or banning these markets would hurt people like me who use them responsibly.
Im asking you to support proportionate regulation that lets prediction markets thrive while addressing real risks with targeted rules. Please dont restrict or ban them outright. Thank you for considering my perspective.
Sincerely,
Dylan Diebold
