Comment Text:
Dear Chairman and Commissioners,
My name is Kaden Hunt, and I'm just an everyday citizen from Texas writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not a lawyer or some big financial expert, just someone whos come to value these markets for what they offer, and I want to urge you to support fair, proportionate regulation instead of heavy restrictions or bans.
Ive been trading on platforms like Kalshi for a while now, and Ive seen firsthand how prediction markets provide information you cant get anywhere else. Take elections, for instance. Ive noticed that the odds on these markets often predict outcomes way better than polls or TV pundits. Its not just a game to me, its a tool to understand whats really happening. And its not just for traders like me, this kind of forecasting helps everyone, from journalists to regular folks trying to make sense of the world.
I also love UFC fights, and Im amazed at how far the sport has come. Less than 30 years ago, it was illegal in most places, and now its mainstream, even on betting markets. That shift shows me how society can adapt and regulate things responsibly without banning them outright. Prediction markets are similar. Theyre not gambling, theyre about research and judgment, just like investing in stocks. I value my freedom to participate in legal, regulated spaces like Kalshi. If you shut these down or over-regulate them, people like me will get pushed to unregulated offshore platforms, which are way less safe and dont have any oversight. Thats a step backward, not forward.
Id like to address a couple of specific questions from your ANPR. On Question 7, about balancing innovation and consumer protection, I think regulated markets already strike that balance. Platforms like Kalshi have rules and transparency, which protect users while still allowing new ideas to grow. And on Question 15, about defining whats gaming versus legitimate, Id argue that prediction markets arent gaming at all. Theyre about real-world events and informed decisions, not luck.
I get that there are concerns about things like insider trading or manipulation, but those are already illegal under existing laws. The CFTC has the power to go after bad actors without punishing the rest of us by banning or overly restricting these markets. Please dont throw out a useful tool just because a few might misuse it.
Im asking you to support reasonable regulation of prediction markets. Keep platforms like Kalshi accessible to everyday people like me, and focus on enforcing the rules you already have rather than creating barriers. Thanks for taking the time to read my comment.
Sincerely,
Kaden Hunt
