Comment Text:
Dear Chairman and Commissioners,
My name is Cameron Meier, 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 been following this issue because I actively trade on platforms like Kalshi, and I believe these markets are valuable and should be regulated fairly, not shut down or overly restricted.
I support prediction markets because they give people like me a chance to participate in something thats not just for big institutions or Wall Street insiders. Im not a financial expert, but I do my homework before trading. I read up on current events, analyze trends, and make informed decisions, just like I would with any investment. To me, this isnt gambling. Its a way to put my knowledge to work and maybe hedge against things that affect my life, like election outcomes that could change tax policies or economic decisions that hit my wallet. Calling event contracts "gaming," as some might suggest, feels wrong. They serve real economic purposes, like helping me and others make sense of uncertainty and plan ahead.
I know there are concerns about things like insider trading or market manipulation. I get that. Those are real issues. But the answer isnt to ban or over-restrict these markets. Those behaviors are already illegal, and the CFTC has the power to go after bad actors. Shutting down prediction markets to stop a few cheaters would be like closing the stock market because of insider trading scandals. It punishes regular folks like me who are just trying to engage with the world in a meaningful way. Instead, focus on enforcing the rules you already have.
I also want to address some of the specific questions in the ANPR, like those in Topic Area C about defining gaming versus legitimate markets (Questions 15-22). I strongly believe event contracts arent gaming. Theyre based on real-world outcomes and require skill and research, not luck. Treating them as gambling would ignore the value they provide in price discovery and risk management for everyday people, not just big players.
Ive found trading on Kalshi to be a unique way to stay informed and have a stake in understanding whats happening around me. For example, last year I traded on contracts tied to inflation data because I was worried about rising costs for my family. The markets predictions helped me feel a bit more prepared, even if I didnt win every trade. That kind of access matters to me, and I dont want to lose it.
Im asking you to support proportionate regulation of prediction markets. Dont ban broad categories of contracts or make it impossible for regular citizens to participate. Keep these markets legal and regulated so they stay safe and transparent for everyone. Thank you for considering my perspective.
Sincerely,
Cameron Meier
