Comment Text:
Dear Chairman and Commissioners,
My name is Ayomide Olumuyiwa, and Im a trader and investor based in Massachusetts. As a first-generation American, Ive worked hard to build a stable future for myself and my family. I recently paid off my student loans and am hoping to start a masters program soon. My goal is to create generational wealth, and I want to do that in a safe, regulated environment where consumers like me are protected. Thats why Im writing to comment on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I strongly support well-regulated prediction markets, and I want to share my perspective as someone who actively trades on platforms like Kalshi.
Prediction markets are incredibly valuable to me. I use them to get accurate forecasts on elections and other public events, information I cant find anywhere else. Polls and pundits often get it wrong, but these markets aggregate real data from real people putting their money where their mouth is. Thats not just useful for traders like me, its helpful for everyone who wants to understand whats likely to happen. Plus, allowing regular folks like me to participate makes the system fairer. If only big institutions could trade, theyd hoard all the insights. I believe this democratized access is a strength, not a problem.
I also want to stress that regulated platforms like Kalshi are far safer than unregulated offshore ones. Ive seen whats out there beyond CFTC oversight, and its a Wild West. No protections, no accountability. If the CFTC over-restricts or bans these markets, people like me will get pushed to those risky places. Regulation keeps us safe while letting innovation thrive. Id rather trade where there are rules and someones watching out for manipulation or fraud. Speaking of which, I know insider trading and market manipulation are concerns, but those are already illegal. The CFTC has the tools to enforce those laws. Banning or over-regulating prediction markets to stop a few bad actors feels like punishing the rest of us who are playing by the rules.
On a practical note, Id like to address Question 29 from the ANPR about informed traders and price discovery. I think having knowledgeable traders in the market improves accuracy, as long as theyre not using illegal inside information. Maybe the CFTC could consider safeguards like a pop-up button asking traders to confirm their trade if it looks unusual, especially if its a last-second move that doesnt make sense. That could flag potential issues without shutting down the whole system.
Im asking the CFTC to support proportionate regulation of prediction markets. Dont ban or overly restrict them. Keep platforms like Kalshi safe and accessible for people like me who are trying to build a future while staying within a protected space. Thank you for considering my input.
Sincerely,
Ayomide Olumuyiwa
