Comment Text:
Dear Chairman and Commissioners,
My name is Perla Ramirez, and I'm a resident of Maryland writing as an everyday citizen with no special expertise, just a strong interest in fair and safe financial opportunities. I recently learned about prediction markets, and while I'm new to them, I believe they have real value for people like me. I'm writing in response to the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516) to urge the CFTC to support well-regulated prediction markets rather than banning or over-restricting them.
I value my freedom to participate in legal, regulated markets. Prediction markets aren't just for big investors or institutions; they let regular folks like me engage with information about the world, whether it's politics, economics, or other events. I don't see this as gambling. It feels more like investing, where you research and make informed choices. These event contracts have real economic purposes, like helping people hedge against uncertainties that affect their lives. Calling them "gaming" doesn't seem right to me.
I'm also concerned about safety as a consumer. I've read about platforms like Kalshi, which operate under CFTC oversight, and that gives me confidence. But I've also seen stories about unregulated offshore sites where there's no protection if something goes wrong. If the CFTC over-restricts or bans prediction markets here, I worry that people will just turn to those riskier alternatives. Regulation, not prohibition, is the way to protect consumers like me. I think the CFTC already has strong tools to stop manipulation and insider trading in other markets, and those can work here too without shutting everything down.
Another thing that matters to me is keeping the US as a leader in innovation. If we clamp down too hard on prediction markets, other countries will step in and take the lead. We should be setting the standard for how to do this right, not walking away from it. I noticed Question 7 in your ANPR asks about balancing innovation with consumer protection, and I believe we can do both by regulating smartly instead of banning.
I don't have all the answers, and I know there are risks to consider. But punishing everyone by restricting these markets because of a few bad actors doesn't seem fair. Let's keep activity in regulated spaces where the CFTC can watch over it. I'm asking you to support proportionate rules for prediction markets that protect consumers while allowing innovation and participation for everyday people like me.
Thank you for considering my perspective.
Sincerely,
Perla Ramirez
