Comment Text:
Dear Chairman and Commissioners,
My name is Rob Lajeunesse, and I'm a software engineer from Texas. I've been working in tech for years, and I actively trade on prediction markets like Kalshi. I'm writing to express my strong support for well-regulated prediction markets in response to the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I believe these markets are valuable tools for individuals like me and for society as a whole, and I urge the CFTC to adopt proportionate regulations rather than overly restrictive rules or bans.
As someone who trades on platforms like Kalshi, I've seen firsthand how prediction markets provide insights you can't get from polls or pundits. Their forecasts are often more accurate because they aggregate real financial stakes from a wide range of participants. This isn't just useful for traders; it benefits everyone by offering clearer signals on everything from election outcomes to economic trends. I also value the freedom to participate in these legal, regulated markets. Shutting out regular people like me would mean the best information stays with big institutions, which isn't fair and doesn't help price discovery.
Im particularly concerned about the alternative if the CFTC over-regulates or bans these markets. Without safe, regulated platforms like Kalshi, activity will just move to offshore sites with no oversight. I've looked into some of those platforms, and the lack of consumer protection is glaring. Regulation here in the US keeps traders safer and ensures accountability. On top of that, the United States should be leading the way in financial innovation. We can't afford to cede this space to other countries that are already embracing these technologies and markets.
I also want to address concerns about insider trading or manipulation, which I know the CFTC is focused on in questions 29-32 of the ANPR. Informed trading actually improves price discovery and makes markets more accurate, benefiting everyone. Bad actors are a risk in any market, but the answer isn't to ban prediction markets. It's to enforce existing laws and create targeted rules for specific risks, not broad categorical prohibitions. The CFTC already has tools to combat manipulation, as noted in questions 1-6, and those can be adapted here without punishing law-abiding participants.
Lastly, in response to questions 7-14 on public interest, I believe regulated prediction markets strike the right balance between innovation and consumer protection. Theyre not gambling; theyre a way for people to engage with real-world events using research and judgment. I urge the CFTC to support proportionate regulation that allows these markets to thrive while addressing legitimate risks with focused solutions.
Thank you for considering my input. I hope the CFTC will champion well-regulated prediction markets and ensure the US remains a leader in financial innovation.
Sincerely,
Rob Lajeunesse
