Comment Text:
Dear Chairman and Commissioners,
My name is Soraya Hadipour-Davis, and I'm just a regular citizen from Texas writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've used prediction markets a few times myself, and I believe they have real value. I'm asking you to support fair and balanced regulation of these markets, not heavy-handed restrictions or outright bans.
I value my freedom to take part in legal, regulated markets like these. Prediction markets aren't just for big institutions or Wall Street types. They let everyday people like me engage with important events and make informed decisions based on unique information that you can't always find in polls or news. I've placed a few trades on platforms like Kalshi, and it's not gambling to me. It takes research and thought, much like any other kind of investing. Shutting down access for regular folks would only concentrate the benefits with the big players, and that doesn't seem right.
I'm also worried about the US falling behind. We should be leading the world in financial innovation, not handing the advantage to other countries. If the CFTC over-restricts or bans prediction markets, people won't just stop trading. They'll turn to offshore platforms that aren't regulated at all. I've seen how regulated markets like Kalshi have clear rules and protections in place. Compare that to some sketchy offshore site with no oversight, and it's obvious which is safer for users like me. Pushing activity overseas doesn't solve problems; it makes them worse.
Looking at some of the specific questions in the ANPR, I think my views tie directly to Topic B on Public Interest, especially Question 7 about balancing innovation and consumer protection. I believe you can protect consumers by regulating these markets properly, not by banning them. And for Topic C on Listed Activities, like Question 15 about defining legitimate markets, I urge you not to label prediction markets as gaming. They serve a real purpose in forecasting and hedging, which benefits society.
I understand there are concerns about manipulation or insider trading, and those are valid. But the CFTC already has tools to tackle those issues in other markets. Use those same tools here. Don't punish everyone by restricting access because of a few bad actors.
In closing, I ask the CFTC to craft rules that allow prediction markets to thrive under fair oversight. Keep them accessible to regular people, and keep the US at the forefront of innovation. Thanks for taking the time to read my comment.
Sincerely,
Soraya Hadipour-Davis
