Comment Text:
Dear Chairman and Commissioners,
My name is Julian Clement, and I'm a welder and machine operator from Texas. Im writing to comment on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not a lawyer or a financial expert, but Ive been actively trading on prediction markets like Kalshi for a while now, and I want to share why I think these markets should be supported with fair regulation, not banned or over-restricted.
As someone who works with my hands for a living, I value the freedom to participate in legal, regulated markets like these. Prediction markets give me a way to engage with events that affect my life, like elections or economic policies that could impact my job or costs down here in Texas. I put time into researching before I trade, just like I do when Im figuring out a tough welding job. Its not gambling to me; its using my judgment about the world. I dont see why regular folks like me should be locked out of something that big institutions can access. Keeping these markets open to everyday people feels right, and I think it makes the information they produce more accurate.
Im worried that banning or putting too many restrictions on prediction markets will just push people to unregulated offshore platforms. Id rather trade on a platform like Kalshi, where the CFTC has oversight and there are rules to keep things fair. If you shut down or over-regulate these markets here, youre not stopping the activity; youre just sending it somewhere less safe. That doesnt protect anyone. Also, I believe the US should be a leader in financial innovation. Weve got the talent and the drive to set the standard for how these markets work. If we step back, other countries will step up, and well lose out on the benefits, both economic and informational.
I noticed some of the questions in the ANPR, like Question 7 on balancing innovation and consumer protection, and Question 14 about the public interest. My take is that innovation and protection dont have to be at odds. You can set rules to stop manipulation or insider trading, which I know you already have tools for, without killing off a useful market. And for the public interest, I think prediction markets help everyone by providing better information than polls or pundits often do.
Im asking you to support proportionate regulation of prediction markets. Dont ban them or make the rules so tight that regular people like me cant participate. Keep these markets legal and regulated here in the US, where they can be done right.
Thank you for considering my thoughts.
Sincerely,
Julian Clement
