Comment Text:
Dear Chairman and Commissioners,
My name is Cj Smith, and I'm a trader and investor from Georgia. I've been actively trading on prediction markets like Kalshi for a while now, and I wanted to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I strongly support the idea of well-regulated prediction markets, and I hope my perspective as someone who uses these platforms can help shape your approach.
I got into prediction markets because they give me information I can't find anywhere else. The prices reflect what people really think about events, whether it's an election or an economic report, and I've found them to be more accurate than polls or talking heads on TV. It's not just useful for trading; it helps me make better decisions in my personal investments too. Plus, I like that these markets let regular folks like me participate. If only big institutions could trade, all that valuable info would stay locked up with them. Opening it up feels fairer and makes the predictions sharper.
One thing I want to stress is how much safer regulated markets like Kalshi are compared to unregulated offshore platforms. I've seen ads for those other sites, and they look sketchy, with no oversight or guarantees. On Kalshi, I know there's accountability because it's under CFTC rules. If you clamp down too hard or ban these markets, people like me won't stop trading; we'll just get pushed to those unsafe, offshore options. Thats not good for anyone. I think the CFTC should focus on keeping regulated markets strong and accessible instead of driving activity underground.
I also have a small suggestion, if youll bear with me. Ive noticed Kalshi has cool features for esports like League of Legends, where you can flip between watching odds and charts. Id love to see something similar for major sports like the NBA, MLB, or NFL. Maybe even little logos to show which team is pitching or hitting in baseball. Just a thought to make the platform more user-friendly for folks like me who follow sports closely. Im not sure if this fits into your rules process, but I figured Id throw it out there.
Looking at some of your specific questions, like in Topic B on public interest (Questions 7-14), I think prediction markets balance innovation and protection when theyre regulated properly. And for Topic D on procedures (Questions 23-28), I believe the CFTC should keep public interest determinations focused on ensuring fair access, not shutting down whole categories of contracts. My ask is simple: please support proportionate regulation of prediction markets. Dont ban or over-restrict them. Keep platforms like Kalshi safe and open for traders like me.
Thank you for considering my input. Have a nice day.
Sincerely,
Cj Smith
