Comment Text:
Dear Chairman and Commissioners,
My name is Kevin Tudor, and I'm a small business owner based in Florida. Im writing to comment on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I actively trade on platforms like Kalshi and Polymarket, and I strongly support the CFTC creating a well-regulated framework for prediction markets rather than imposing bans or overly restrictive rules.
As a business owner, I rely on accurate information to make decisions about my companys future. Prediction markets provide insights I cant get from pundits or polls, especially when it comes to elections and major public events. Ive seen firsthand how these markets often predict outcomes more accurately than traditional forecasts. For example, during the last election cycle, the prices on these platforms gave me a clearer picture of what might happen than any news outlet. That kind of information isnt just helpful to me as a trader; its valuable to anyone trying to plan ahead, whether they trade or not.
I also believe these markets level the playing field. They let regular people like me participate in a space that would otherwise be dominated by big institutions. If you restrict access too much, the valuable data stays locked up with the elites, and thats not fair. Plus, trading on these platforms isnt gambling. It takes research and real-world judgment, just like investing in stocks or commodities. I put in the time to understand the issues Im trading on, and its made me more engaged with public events.
Im worried, though, about the idea of banning or over-restricting prediction markets. If the CFTC goes too far, itll just push activity to unregulated offshore platforms. Id rather trade on a regulated U.S. market like Kalshi, where there are protections in place, than be forced to use some sketchy foreign site with no oversight. Banning these markets doesnt stop them; it just makes them less safe for everyone. And honestly, the CFTC already has tools to handle issues like insider trading or manipulation. Use those instead of punishing the rest of us.
Id like to address a couple of specific questions from the ANPR. On Question 7, about balancing innovation and consumer protection, I think regulation should focus on transparency and anti-fraud measures, not outright bans. And on Question 14, about the public interest, I believe prediction markets serve a clear public good by improving forecasting for events that affect us all. Please dont let a fear of bad actors derail something so useful.
I urge the CFTC to support proportionate regulation of prediction markets. Create clear rules that protect consumers and encourage innovation, but dont shut down or over-restrict these valuable tools. Thank you for considering my input.
Sincerely,
Kevin Tudor
