Comment Text:
Dear Chairman and Commissioners,
My name is Aiden Fong, and I'm a regular citizen from North Carolina 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 strongly support the idea of well-regulated prediction markets. I believe they provide real value to people like me and to society as a whole, and I hope the CFTC will create rules that allow these markets to thrive without over-restricting them.
I got into prediction markets because I wanted a better way to understand what's happening in the world. Polls and pundits often get things wrong, but the prices on these markets seem to cut through the noise. I've seen firsthand how they can predict election outcomes or economic trends more accurately than most experts. That kind of information isn't just useful for traders; it's helpful for anyone trying to make sense of uncertain times. Beyond that, I value the freedom to participate in a legal, regulated space. I'm not a big investor or a Wall Street type. I'm just a regular person who does some research and makes informed bets on events that matter to me. Being able to take part feels fair and empowering.
One thing I want to stress is that this isn't gambling. When I trade on Kalshi, I'm not rolling dice or playing slots. I'm reading up on issues, weighing probabilities, and making decisions based on real-world events. It feels a lot like investing in stocks, just with different kinds of outcomes. These event contracts have a real economic purpose, whether it's for hedging risks or figuring out what the market thinks about something. I also feel much safer trading on a regulated platform like Kalshi compared to some sketchy offshore site. If the CFTC cracks down too hard or bans these markets, I worry people will just move to unregulated platforms where there's no oversight. That seems like a step backward.
Looking at some of the questions in the ANPR, I think Question 7 about balancing innovation and consumer protection is key. I'm all for protecting people, but I don't think that means shutting down prediction markets. Regulated platforms already have safeguards, and the CFTC can build on those. Also, Question 15 on defining "gaming" hits home for me. These contracts aren't games; they're serious tools for understanding and managing uncertainty.
I hope the CFTC will support proportionate rules that let prediction markets operate while addressing real risks with targeted solutions. Don't ban or over-restrict something that provides value to everyday folks like me. Thank you for considering my perspective.
Sincerely,
Aiden Fong
