Comment Text:
Dear Chairman and Commissioners,
My name is LaGarius Smith, and I'm just an everyday citizen from North Carolina writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm not an expert or a big-time investor, just someone who believes in having the freedom to participate in legal, regulated markets. Im new to prediction markets, but I see their value and want to support them being done right under the CFTC's oversight.
I think prediction markets are a good thing for people like me. They give regular folks a chance to have a say and put our money where our beliefs are on important events, whether its an election or economic news that affects our lives. I like that these markets can provide information you dont get from polls or TV pundits. Its not gambling to me; its about using judgment and doing research, just like any other kind of investing. I dont want that opportunity taken away because of overregulation or outright bans.
What really matters to me is making sure these markets are safe and fair. Ive read about platforms like Kalshi, which are regulated by the CFTC, and that gives me confidence. Id much rather see prediction markets operate under clear U.S. rules than get pushed to shady offshore sites where theres no oversight. If you make the rules too strict or ban certain kinds of contracts, people will just go to unregulated platforms, and thats worse for everyone. Regulation should protect us, not block us out. Im especially thinking about questions 7 and 8 from your notice, where you ask about balancing innovation with consumer protection. I believe you can do both by setting fair rules that keep markets open to regular people while cracking down on bad actors.
I understand there are concerns about manipulation or insider trading, and I get why thats a worry. But those things are already illegal, right? The CFTC has the power to go after anyone cheating the system. Shutting down or over-restricting prediction markets because of a few bad apples feels like punishing the rest of us who just want a fair shot. Lets focus on enforcing the rules you already have.
Im asking you to support proportionate regulation of prediction markets. Dont ban broad categories or make it impossible for platforms to operate here. Keep them regulated, safe, and open to everyday citizens like me in North Carolina. Thank you for taking the time to read my thoughts.
Sincerely,
LaGarius Smith
