Comment Text:
Dear Chairman and Commissioners,
My name is A. Rasik Gohil, and I'm just an everyday citizen from Virginia writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I've used prediction markets a few times myself, and I strongly support their operation under fair, well-thought-out regulation by the CFTC. I appreciate the chance to weigh in on this.
I believe prediction markets are valuable for regular people like me. They give access to information that's hard to find anywhere else. I've seen firsthand how their forecasts on elections and public events often beat out polls or TV pundits. That accuracy isn't just useful for traders; it helps everyone make sense of what's happening. There's solid academic research backing this up, showing how these markets pull together data in a transparent way. I think the US should be a leader in this kind of financial innovation, not fall behind other countries by over-restricting or banning them.
I'm also convinced that event contracts aren't gambling. They serve real purposes, like helping people hedge risks or make informed decisions based on research and judgment, much like trading stocks. Calling this "gaming" feels wrong to me. Plus, keeping these markets legal and regulated under platforms like Kalshi is way safer than pushing activity to sketchy offshore sites. If we ban or over-restrict them, that's exactly where people will go, and there'll be no oversight at all. I value my freedom to participate in legal, regulated markets here in the US, and I don't want to see that taken away.
Addressing some of your specific questions, like those in Topic Area B on public interest (Questions 7-14), I think the balance should tilt toward innovation with sensible guardrails, not outright bans. For Topic Area D on procedures (Questions 23-28), I'd urge you to focus on case-by-case or targeted rules rather than broad categorical prohibitions. Proportionate regulation that tackles specific risks, like manipulation, makes more sense than shutting down entire markets. Banning these markets to stop a few bad actors feels like punishing everyone for something that's already illegal anyway.
I hope the CFTC will support prediction markets with rules that keep them fair and accessible. Don't let heavy-handed restrictions push this valuable tool offshore or out of reach for everyday folks like me. Thank you for considering my perspective.
Sincerely,
A. Rasik Gohil
