Comment Text:
Dear Chairman and Commissioners,
My name is Dominic Pryor, and I'm just an everyday citizen from Mississippi writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm new to prediction markets, but I strongly support their existence under fair and sensible regulation. I believe they offer real value to people like me, and I hope the CFTC will craft rules that allow them to thrive while protecting consumers.
I've seen how hard it is to get reliable information these days. Polls and pundits often miss the mark, but prediction markets seem to cut through the noise. They aggregate what people actually think, based on where they're willing to put their money. That kind of price discovery isn't just useful for traders; it's helpful for anyone trying to understand what's really going on, whether it's an election or an economic event. I want access to that kind of insight, and I think most folks do too.
I'm also concerned about fairness and freedom. As a regular person, I should have the right to participate in legal, regulated markets like these. They're not gambling, in my view. They're about research and judgment, just like investing in stocks. Event contracts let people hedge real risks or weigh in on things that matter to them. Banning or over-restricting them wouldn't stop the demand; it would just push people to unregulated offshore platforms where there's no oversight. I'd much rather see a platform like Kalshi, operating under CFTC rules, than have no safe options at all.
I know there are worries about manipulation or insider trading. I get that. But the CFTC already has strong tools to tackle those issues in other markets. Why not use them here instead of broad bans? Shutting down prediction markets to stop a few bad actors feels like overkill. Plus, if the U.S. over-regulates, we risk losing ground to other countries in financial innovation. I want America to lead on this, not fall behind.
Specifically, on some of the questions in the ANPR, I think about Question 7 under Public Interest. How do we balance innovation and protection? I say, regulate smartly but don't smother the idea. And on Question 15 about defining gaming, I don't think these contracts are games. They serve real economic purposes. I hope you'll consider these points.
In closing, I urge the CFTC to support proportionate regulation of prediction markets. Let regular folks like me participate in a safe, legal way without pushing activity offshore. Thank you for considering my input.
Sincerely,
Dominic Pryor
