Comment Text:
Dear Chairman and Commissioners,
My name is Ryan Einsmann, and I'm a gambler from New York writing about the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I've placed bets on sports pretty much every day for years, and to me, prediction markets are just another book to play. I've used them a few times, and I want to share why I think you should support regulated markets instead of cracking down on them.
Look, Im not gonna pretend this isnt gambling. It is. Im putting money down on what I think will happen, same as I do with football or basketball. But thats exactly why I want these markets to be legal and regulated here in the U.S. Ive seen what happens when stuff gets pushed underground or offshore. Those platforms dont care about protecting users, and if something goes wrong, theres nobody to complain to. A regulated market like Kalshi, under CFTC oversight, is way safer. Theyve got rules, transparency, and accountability. Id much rather bet on a platform where someones watching out for fraud or manipulation than some sketchy site based who-knows-where.
I also believe in the freedom to participate in legal markets. If Im not hurting anyone, why shouldnt I be able to put my money on an election outcome or some economic event? Its my choice, and Im willing to take the risk. Banning or over-restricting these markets doesnt stop people like me from betting. It just pushes us to places with no oversight. Thats not solving a problem; its making it worse.
I noticed in your questions, specifically Question 7 under Public Interest, youre asking about balancing innovation with consumer protection. My take is simple: regulation is the balance. Let platforms operate under clear rules, and make sure theyre safe for people like me to use. Dont just shut it all down because some might abuse it. And on Question 29 about inside information, I get the concern, but isnt that already illegal? Focus on enforcing those laws instead of punishing everyone.
Im not saying theres no risk here. There is. But Id rather have the option to bet in a regulated space than be forced into the shadows. Please support proportionate regulation of prediction markets. Keep them legal, keep them safe, and let people like me make our own choices.
Sincerely,
Ryan Einsmann
