Comment Text:
Dear Chairman and Commissioners,
My name is Kyle Skinner, and I'm a regular citizen from New Jersey writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I'm not an expert or a big investor, just someone who believes in the value of fair, accessible markets. I'm new to prediction markets, but I strongly support their place in our economy under sensible regulation, and I appreciate the chance to weigh in on how the CFTC approaches this.
I believe prediction markets offer something unique. They let everyday people like me participate in a legal, regulated space where we can express our views on real-world events, and that process creates information that benefits everyone. I've read how platforms like Kalshi, which operate under CFTC oversight, provide a safer and more transparent way to engage compared to unregulated offshore alternatives. If we ban or over-restrict these markets, people won't just stop trading. They'll go to less safe, foreign platforms where theres no protection at all. Thats not the outcome we want.
I also think the US should be a leader in financial innovation. We shouldnt let other countries take the lead while we drag our feet with heavy-handed rules. Prediction markets are a chance to show how we can balance new ideas with consumer protection. I'm all for rules that stop manipulation or insider trading, but those should be targeted fixes, not broad bans that kill the whole concept. Lets address specific risks without throwing out the benefits.
On some of the questions youve posed, like in Topic B on public interest (Questions 7-14), Id say the balance tips toward innovation when markets are regulated properly. Regulated markets protect consumers far better than pushing activity offshore. And on Topic E about inside information (Questions 29-32), I believe informed trading actually helps everyone by making prices more accurate. The CFTC already has tools to handle bad actors, so lets use those instead of restricting access for honest participants like me.
I want the freedom to take part in these markets without worrying about scams or unfair practices, and that means keeping them regulated here at home. I urge you to support proportionate regulation of prediction markets, focusing on specific risks rather than sweeping prohibitions. Lets keep the US competitive and protect consumers by building a strong framework, not by shutting things down.
Thank you for considering my input.
Sincerely,
Kyle Skinner
