Comment Text:
Dear Chairman and Commissioners,
My name is Shawn Walter, and I'm just an everyday citizen from Texas writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I care deeply about freedom, something I've fought for in my life, and I see prediction markets as a way for regular folks like me to have a fair shot at participating in financial systems that are too often locked up by big players.
I actively trade on platforms like Kalshi, and I can tell you firsthand that event contracts are not gambling. They serve real economic purposes. When I trade on an election outcome or an economic indicator, I'm not rolling dice. I'm researching, reading up on policies, and making informed decisions based on what I think will happen in the real world. It's no different from someone investing in stocks or commodities based on their judgment. Classifying this as "gaming" would be a mistake, and it would unfairly paint a legitimate tool as something it's not. These markets let me hedge risks that affect my life, like policy changes that could hit my wallet or business decisions I need to plan around.
I also want to stress that platforms like Kalshi provide a safe, regulated space where everyone gets an equal opportunity to participate. Without these regulated markets, the information and financial benefits stay with the sharks, the insiders, and the big institutions. Thats not freedom. Thats a closed system where regular people get left out. Im not saying there arent risks or bad actors, but shutting down or over-restricting prediction markets isnt the answer. It just pushes activity to shady, offshore platforms where theres no oversight at all.
I noticed some of the questions in the ANPR, like those in the "Listed Activities" section (Questions 15-22), ask about defining gaming versus legitimate markets. I strongly believe event contracts fall on the legitimate side because theyre about price discovery and hedging, not chance. And on the "Public Interest" questions (like 7-14), I think the balance tips toward innovation and access for regular people over heavy-handed restrictions.
I urge you to support proportionate regulation of prediction markets. Dont ban or over-restrict them. Focus on enforcing the rules you already have against manipulation and insider trading, and let platforms like these keep providing a fair, open space for people like me to engage with the world around us. Thank you for considering my perspective.
Sincerely,
Shawn Walter
