Comment Text:
Dear Chairman and Commissioners,
My name is John Rice, and I'm just an everyday citizen from Virginia 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 investor, just someone who believes in the value of freedom and opportunity in our financial system. Im new to prediction markets, but I strongly support their existence under fair, regulated conditions, and I want to explain why.
Ive always believed that regular folks like me should have the chance to participate in legal markets, whether its stocks, commodities, or something newer like prediction markets. These platforms give us a way to engage with the world, make informed decisions, and maybe even protect ourselves from uncertainty. For example, if I could trade on an event contract about an election outcome that might affect my taxes or local business regulations, that feels like a practical tool, not a game. Shutting down or over-restricting these markets would cut off regular people from a system that could benefit us, and I dont think thats right.
What really gets me fired up is the idea that the United States should be leading the way on financial innovation. Weve always been a country that pioneers new ideas, from tech to finance. Prediction markets are a chance to show the world were still at the forefront. If we ban or over-regulate them, were just handing the advantage to other countries who will step in and build their own platforms. I dont want to see Americans pushed to unregulated offshore sites because we couldnt figure out a sensible way to manage this at home. We can do better than that.
I noticed a few questions in the ANPR that relate to my concerns, like Question 7 on balancing innovation with consumer protection and Question 14 on how prediction markets compare to other financial tools. My take is simple: lets regulate them to prevent fraud or manipulation, but dont kill the whole idea just because there are risks. The CFTC already has tools to handle bad actors in other markets, so use those here too. And as for innovation, lets embrace it while setting clear rules to keep things safe.
Im asking you to support proportionate regulation of prediction markets. Dont ban them or make the rules so tight that only big institutions can play. Give everyday people like me a fair shot to participate in a system thats regulated, transparent, and American-led. Thank you for considering my perspective.
Sincerely,
John Rice
