Comment Text:
Dear Chairman and Commissioners,
My name is Asher Ravona, and I'm just a regular citizen from Nevada writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been actively trading on platforms like Kalshi, and I strongly support the idea of well-regulated prediction markets. They're not just a hobby for me; they're a real way to understand the economy, learn about finance, politics, and even sports. I want to make it clear that this isn't betting, and it shouldn't be treated as such. Labeling it as gambling feels wrong to me, and I believe it would be an incorrect and unfair way to approach something with real economic value.
I rely on prediction markets for information that I can't get anywhere else. Honestly, their forecasts on elections and public events have been way more accurate than polls or pundits. That kind of insight helps me make better decisions, whether it's about my personal finances or just understanding what's happening in the world. Plus, I've used these markets to hedge real risks. For instance, trading on economic indicators helps me offset uncertainties that could affect my budget. This isn't a game; it's a practical tool.
I'm also concerned about freedom and fairness. I think it's great that regular people like me can participate in these markets. If only big institutions get access, all the valuable information stays with them, and that's not right. On top of that, regulated platforms like Kalshi are much safer than unregulated offshore sites. If the CFTC bans or over-restricts these markets, people will just go to less safe places, and that helps no one. The US should be leading in financial innovation, not pushing it away to other countries. I believe the CFTC already has strong tools to stop manipulation and insider trading. Use those instead of broad bans that punish everyone.
In response to some of your specific questions, like those in the Public Interest section (Questions 7-14), I think prediction markets clearly benefit society through better price discovery and risk management. They're not gambling; they serve real purposes, as I mentioned with hedging. On the Listed Activities topic (Questions 15-22), I urge you not to classify event contracts as gaming. That label doesn't fit. And regarding Inside Information (Questions 29-32), I believe informed trading actually helps make prices more accurate, benefiting everyone in the market.
I appreciate that the CFTC is looking into consumer protection, but the answer isn't to shut these markets down. Please support proportionate regulation that targets specific risks without banning entire categories. Keep prediction markets accessible, safe, and innovative right here in the US.
Thank you for considering my views.
Sincerely,
Asher Ravona
