Comment Text:
Dear Chairman and Commissioners,
My name is Trent Guillen, and I'm a regular citizen from Florida 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 feel strongly about the importance of keeping these markets accessible and well-regulated for people like me.
I support prediction markets because they give me, an everyday person, a chance to participate in something that isn't just for big institutions or Wall Street insiders. When I trade on Kalshi, I'm not gambling. I'm researching, thinking about real-world events, and making informed decisions, just like I would with any other investment. These markets provide information you can't find anywhere else. I've seen how their predictions often beat out polls or talking heads on TV when it comes to things like elections or economic data. That benefits everyone, not just traders.
What really matters to me is the freedom to take part in legal, regulated markets. I don't want to be shut out of something useful and innovative just because a few people might misuse it. If the U.S. clamps down too hard, we're just pushing this activity to offshore platforms with no oversight. Worse, we're handing the lead in financial innovation to other countries. I've read about how places like Europe and Asia are exploring these markets. Why should the U.S., with all our tech and financial know-how, fall behind? We should be setting the standard, not playing catch-up.
I'm also aware of the concerns, like insider trading or manipulation. I get that those are real risks. But aren't there already laws and tools in place to handle that? The CFTC has the power to go after bad actors without banning entire markets. Shutting down prediction markets to stop a few cheaters feels like overkill to me, like closing a highway because some people speed.
Looking at some of the specific questions in the ANPR, I want to address numbers 7 and 8 under Public Interest. I believe prediction markets serve the public by democratizing access to unique information and fostering innovation. The CFTC should balance consumer protection with the need to keep these markets open, not restrict them out of existence. On question 29 under Inside Information, I'd argue that informed traders often make prices more accurate, and the focus should be on enforcing existing laws, not creating new barriers.
In closing, I urge the CFTC to support proportionate regulation of prediction markets. Don't ban or over-restrict them. Let regular folks like me keep participating in a system that's safe, transparent, and keeps the U.S. at the forefront of financial innovation.
Sincerely,
Trent Guillen
