Comment Text:
Dear Chairman and Commissioners,
My name is Sean Popelka, and I'm just a regular guy from Wisconsin who wants to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not a lawyer or a financial expert, just someone who actively trades on regulated prediction markets like Kalshi. I believe these markets are valuable, and Im asking you to support fair, proportionate regulation rather than heavy restrictions or outright bans.
I got into trading on prediction markets because I saw how they offer information you cant find anywhere else. The prices reflect what people really think about events, whether its an election or an economic indicator, and Ive found them more accurate than news pundits or polls. As an everyday citizen, I appreciate having access to this tool. Its not gambling to me; it takes research and judgment, just like any other investment. I should have the freedom to participate in legal, regulated markets like Kalshi without fear of them being shut down.
Im also worried about what happens if the CFTC over-restricts these markets. If platforms like Kalshi cant operate, people like me will get pushed to unregulated offshore sites. Those places dont have the oversight or consumer protections that CFTC-regulated markets do. Ive seen how Kalshi has clear rules and transparency, and I feel safer trading there. Banning or limiting these markets doesnt solve problems; it just drives activity to sketchier corners of the internet where no one is watching out for us.
On the topic of risks like manipulation or insider trading, I believe the CFTC already has strong tools to handle those issues. You dont need to ban entire categories of contracts to stop a few bad actors. Targeted rules can address specific problems without punishing everyone else. I also think informed trading actually helps. When people with real knowledge trade, it makes the prices more accurate, which benefits all of us. This ties into your questions 29 through 32 about inside information and price discovery. Id argue that the focus should be on enforcing existing laws against insider trading rather than restricting markets as a whole.
Im also looking at questions 7 through 14 on public interest. I believe regulated prediction markets strike a good balance between innovation and consumer protection. They give regular folks like me a chance to participate while still having safeguards in place. Please dont take that away with overly broad rules.
Im asking you to support proportionate regulation that keeps prediction markets accessible on platforms like Kalshi. Focus on specific risks with targeted solutions, and dont push activity offshore by over-restricting. Thank you for considering my perspective as an everyday trader from Wisconsin.
Sincerely,
Sean Popelka
