Comment Text:
Dear Chairman and Commissioners,
My name is Anthony Ramon, 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 not an expert or a big-time trader, but Ive recently learned about prediction markets, and I strongly support the idea of having access to legal, regulated platforms where regular people like me can participate.
Im new to prediction markets, but I see their value. They offer a unique way to get information about future events, often more accurate than polls or news pundits. Thats something Id like to tap into, whether its figuring out the odds of an election outcome or an economic policy change that could affect my budget. What I care about most is the freedom to take part in these markets without overbearing restrictions. I dont think its fair to lock regular folks out of something that big institutions might still get to use. If the prices in these markets reflect real information, shouldnt we all have a chance to see and act on that?
One thing that really bothers me is the idea of labeling event contracts as "gaming." I dont see this as gambling at all. To me, trading on prediction markets is about research and making informed guesses based on whats happening in the world, much like investing in stocks or other financial tools. Its not just luck. These markets have a real economic purpose, like helping people hedge against uncertainty. For example, if Im worried about a policy change that could raise my costs, participating in a prediction market could help me offset that risk. Thats not a game; its a practical decision. Id urge the CFTC to consider this point when looking at questions 15 through 22 about defining gaming versus legitimate markets. I believe event contracts should be recognized for their economic value, not dismissed as something frivolous.
Im not blind to the risks, like potential manipulation or insider trading. But I dont think the answer is to ban or overly restrict these markets. The CFTC already has rules and tools to deal with bad actors, and those should be enforced rather than punishing everyone by shutting down access. Banning prediction markets would just push activity to unregulated places, which seems worse for consumer protection.
I hope the CFTC will support proportionate regulation that lets everyday people like me participate in prediction markets while addressing real concerns with targeted rules. Please dont let heavy-handed restrictions or misclassifications take this opportunity away from us.
Thank you for considering my input.
Sincerely,
Anthony Ramon
