Comment Text:
Dear Chairman and Commissioners,
My name is Eric Delgado, and I'm just a regular guy from California writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not an expert or a lawyer, just someone whos been actively trading on platforms like Kalshi, and I want to explain why I support well-regulated prediction markets.
I started using Kalshi a while back because I saw it as a way to engage with events that matter to me, like elections or economic indicators, in a way that feels more grounded than just following news or polls. The prices on these markets often tell me things I cant find anywhere else. Its not gambling to me; its about researching and making informed guesses based on whats happening in the world. Ive put in time to understand the issues, just like I would if I were investing in stocks. Plus, having access to a platform like this feels fair. If only big institutions or hedge funds could participate, all that valuable information would stay locked up with them. Letting everyday people like me trade makes the system more open and, honestly, more accurate.
What worries me is the idea of over-restricting or banning these markets. I get that there are concerns about manipulation or insider trading, and those are real issues. But the CFTC already has laws and tools to tackle that kind of behavior. Shutting down or overly limiting prediction markets doesnt fix those problems; it just pushes people like me to unregulated offshore platforms that are way less safe. Id much rather trade on a regulated site like Kalshi, where theres oversight, than take my chances on some sketchy foreign app with no accountability. Regulation is the answer, not prohibition.
I noticed in your questions, specifically around Question 7 on public interest and Question 23 on procedural aspects, that youre weighing how to balance innovation with protection. I think the focus should be on creating clear, fair rules that let platforms operate while cracking down on bad actors. Dont punish the rest of us by restricting access. I also think its worth looking at how these markets help regular folks like me hedge against uncertainty, whether its a policy change or an economic shift that hits my wallet.
Im asking you to support proportionate regulation of prediction markets. Keep them legal and accessible on regulated platforms, and use the tools you already have to handle any misuse. Dont let heavy-handed restrictions push activity into unsafe, offshore spaces. Thanks for taking the time to read my perspective.
Sincerely,
Eric Delgado
