Comment Text:
Dear Chairman and Commissioners,
My name is Gavin Markovic, and Im a policy professional from North Carolina. Im writing in response to the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I actively trade on regulated prediction markets like Kalshi, and Im strongly in favor of proportionate regulation that allows everyday Americans like me to participate in these legal, safe platforms. Ive seen firsthand how these markets provide unique insights, and I want to share why I believe the CFTC should support their growth rather than impose overly restrictive rules.
As someone who works in policy and government, I value tools that help me understand public sentiment and forecast outcomes. Prediction markets offer data that polls and pundits often miss. Trading on Kalshi has given me a way to engage with events that impact my work and personal life, whether its an election outcome or an economic indicator. Im not just betting for fun. Im using research and judgment, much like I would with any other investment. But what matters most to me is the freedom to participate in a regulated space. Platforms like Kalshi, operating under CFTC oversight as a Designated Contract Market, provide transparency and accountability. I know my trades are monitored for manipulation, and I trust the system to protect participants.
My biggest concern is that banning or over-restricting prediction markets will push activity to unregulated offshore platforms. If I cant trade on a safe, U.S.-based market, I might be tempted to look elsewhere, where there are no consumer protections or oversight. Thats not just bad for me; its bad for the entire system. The CFTC has the chance to keep this innovation here, under its watch, rather than driving it underground or overseas. On that note, I also believe the United States should lead in financial innovation. We shouldnt cede this space to other countries that are already embracing prediction markets. Lets set the standard for how these markets can operate responsibly.
Id like to address a couple of specific questions from the ANPR. On Question 7, regarding public interest, I think regulated prediction markets clearly serve the public by offering unique price discovery and hedging opportunities while protecting consumers through oversight. On Question 23, about procedural aspects, I urge the CFTC to avoid categorical bans and instead evaluate contracts individually to ensure only problematic ones are restricted. Broad prohibitions would hurt legitimate users like me.
I understand there are concerns about manipulation or insider trading, but the CFTC already has tools to address those issues. Use them. Dont punish everyone by shutting down access. I respectfully ask that you support proportionate regulation of prediction markets, allowing platforms like Kalshi to thrive while keeping robust safeguards in place.
Thank you for considering my input.
Sincerely,
Gavin Markovic
