Comment Text:
Dear Chairman and Commissioners,
My name is Billy Maberry, and I'm just an everyday citizen from Tennessee writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not a trader or a financial expert, but I follow prediction markets closely because they give me insights into whats happening in the world that I cant get from news or polls. Im reaching out because I believe these markets should be regulated fairly, not banned or overly restricted, and I want to have a voice in this process.
I think prediction markets are valuable for people like me. Theyre not just for big investors or Wall Street types. They let regular folks participate in understanding and forecasting events that affect our lives, whether its an election, economic policy, or even weather patterns. I dont trade myself, but I appreciate knowing that if I wanted to, I could do so in a legal, regulated space. Freedom to take part in these markets matters to me. Its about having a fair shot at being involved, not just leaving it to the big players who already have all the advantages. I worry that if we clamp down too hard, well push these markets offshore to unregulated platforms where theres no oversight at all. That doesnt help anyone.
On top of that, I believe the United States should be leading the way in financial innovation. Weve always been a country that pioneers new ideas and technologies. If we over-regulate or ban prediction markets, were handing the future of this industry to other countries who are more willing to embrace it. Why should we let someone else set the standard? We have the chance to create safe, transparent rules that make the U.S. the gold standard for prediction markets. I think thats worth striving for.
I noticed some of the questions in the ANPR, like those in the Public Interest section (Questions 7-14), ask about balancing innovation with consumer protection. My view is simple: protect consumers by enforcing existing laws against fraud and manipulation, but dont kill the innovation by making it impossible for these markets to operate. Also, in the Classification and Costs-Benefits section (Questions 33-40), theres talk about regulatory costs. Id urge you to keep rules proportionate so small players arent priced out.
Im not blind to the risks. I get that some might worry about insider trading or manipulation. But those are already illegal, and the CFTC has tools to tackle bad actors without shutting down entire markets. Punishing everyone for the actions of a few doesnt seem right to me.
I hope youll support well-regulated prediction markets that allow everyday Americans like me to participate. Lets lead on this, not fall behind. Thank you for considering my perspective.
Sincerely,
Billy Maberry
