Comment Text:
Dear Chairman and Commissioners,
My name is Jadin Dejong, and I'm a healthcare professional from Utah. I'm writing to comment on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I actively trade on platforms like Kalshi, and I strongly support the CFTC creating a well-regulated framework for prediction markets rather than imposing bans or overly restrictive rules.
As someone working in healthcare, I often face uncertainties that impact my financial planning, like changes in policy or economic shifts. Trading on prediction markets has given me a way to hedge against some of those risks. For instance, I've used event contracts to offset potential impacts from federal health policy decisions that could affect my income or workplace. This isn't gambling, not by a long shot. It takes research and careful thought, much like any other investment I might make in stocks or mutual funds. Classifying these contracts as "gaming" feels wrong to me, as they serve a real economic purpose, helping people like me manage risk and gain insights from aggregated information. I urge you to consider this in your responses to Questions 15-22 about defining gaming versus legitimate markets.
I also value the freedom to participate in legal, regulated markets. Platforms like Kalshi, operating under CFTC oversight, provide a safe and transparent space for people like me to trade. If the CFTC bans or over-restricts these markets, I worry it will push activity to unregulated offshore platforms where there are no protections. I've seen firsthand in my field how underground or unregulated systems can harm people, and I don't want to see that happen here. Regulated markets are far safer, and I hope the CFTC keeps that in mind when addressing Questions 7-14 on balancing innovation and consumer protection.
Finally, I believe the CFTC already has strong tools to handle issues like manipulation or insider trading. There's no need for heavy-handed restrictions when you can enforce the rules already in place. Banning entire categories of contracts to stop a few bad actors would punish regular traders like me who are just trying to make informed decisions. I'd encourage the Commission to look at Questions 29-32 on insider trading and focus on targeted enforcement rather than broad prohibitions.
I'm asking the CFTC to support proportionate regulation of prediction markets. Please don't ban or over-restrict them. Create a framework that allows everyday people to participate in safe, regulated spaces while using your existing authority to address any misconduct. Thank you for considering my perspective.
Sincerely,
Jadin Dejong
