Comment Text:
Dear Chairman and Commissioners,
My name is Tahzmere Givens, and I'm just an everyday citizen from California 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 and believe they should be regulated in a fair and balanced way, not banned or overly restricted.
Ive been reading up on prediction markets lately, and Im impressed by how they work. Theyre not gambling, in my opinion. These event contracts seem to serve real purposes, like helping people and businesses hedge against uncertainties or figure out what might happen in the future based on collective knowledge. Its not just betting for fun; its about making informed decisions with real-world impact. I think calling this "gaming" misses the point. Its more like investing in stocks, where you have to research and think hard about whats likely to happen.
What really gets me is the idea that the US should be at the front of this kind of financial innovation. Weve always been a leader in new ideas and markets. If we over-regulate or shut down prediction markets, were just handing the advantage to other countries who will step in and take the lead. I dont want to see that happen. We should be setting the standard, not falling behind.
I understand there are concerns, like the risk of insider trading or manipulation. But arent there already laws against that? I think the CFTC has the tools to handle bad actors without throwing out the whole concept of prediction markets. Punishing everyone for the actions of a few doesnt seem right to me. Lets keep these markets open and accessible to regular folks like me, not just big institutions.
I also want to touch on a couple of your specific questions from the ANPR. For question 15, about defining gaming versus legitimate markets, I believe event contracts are legitimate because they provide useful information and hedging opportunities. And for question 7, on balancing innovation and consumer protection, I think you can protect consumers by enforcing existing laws while still allowing innovation to thrive.
Im excited to see where prediction markets can go, and I hope the CFTC doesnt change or restrict this space too much. Please support proportionate regulation that keeps these markets safe but open for everyone. Thank you for taking the time to read my thoughts.
Sincerely,
Tahzmere Givens
