Comment Text:
Dear Chairman and Commissioners,
My name is Nikoloz Gozalishvili, and I'm just an everyday citizen from Georgia writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've used prediction markets a few times, and while I have serious concerns about gambling in general, I believe these markets should be regulated carefully rather than banned or overly restricted.
Im worried about the future of our country when it comes to gambling. I see it as a real danger to peoples livelihoods, and I think prediction markets fall into that category as a legal way to gamble. That said, I also believe in the freedom to participate in legal, regulated markets. If these platforms are going to exist, they need to be treated like other gambling industries with strict oversight to protect people from harm. Banning them outright might just push activity to shady, offshore sites where theres no protection at all. Id rather see the CFTC keep them in check here in the US.
From my limited experience with prediction markets, I can see how theyre different from traditional gambling in some ways. They do require research and thinking about real-world events, kind of like investing. But at the end of the day, its still a bet, and it can be addictive or risky for folks who dont know when to stop. Thats why I think the CFTC needs to focus on proportionate regulation, not broad categorical bans. Target the specific problems, like making sure theres no manipulation or insider trading, without shutting down the whole thing. Im looking at questions 7 through 14 in your ANPR about balancing innovation and consumer protection. I think the answer is clear rules that treat this like gambling but still allow participation under strict conditions.
I also think about questions 15 to 22 on what kinds of activities should be allowed. If prediction markets are gambling, they should follow state gambling laws and have limits on what can be traded. I dont want to see markets on things like war or assassinations, for example. Draw a line there. But for other events, let people participate if the market is regulated properly.
Im no expert, but I believe the CFTC has the tools to handle this without throwing the baby out with the bathwater. Please support targeted regulation of prediction markets that protects consumers and respects state gambling laws, rather than imposing blanket prohibitions. We need oversight, not outright bans, to keep things safe and fair for everyone.
Sincerely,
Nikoloz Gozalishvili
