Comment Text:
Dear Chairman and Commissioners,
My name is Antonio Ramirez, and I'm a regular citizen 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 a financial expert or a lawyer, just someone who values the chance to participate in legal, regulated markets like prediction markets. I've been actively trading on platforms like Kalshi for a while now, and I want to explain why I believe these markets are important and why the CFTC should support them with fair rules, not heavy-handed restrictions.
I got into prediction markets because they give me a way to engage with the world around me, whether it's forecasting election outcomes or economic indicators that affect my daily life. The information these markets provide feels more reliable than what I hear from pundits or see in polls. Its not just about making a few bucks; its about having a stake in understanding whats happening. I also think its a big deal that regular people like me can take part. If only big institutions or Wall Street types had access, all that valuable insight would stay locked away from the rest of us. Democratizing access makes the markets stronger and the information better.
What really concerns me is the idea that the US might fall behind on this. Prediction markets are a form of financial innovation, and I strongly believe the United States should be leading the way, not letting other countries take the reins. If we over-regulate or ban these markets, were just pushing activity to offshore platforms where theres no oversight. Id much rather trade on a regulated platform like Kalshi, under the CFTCs watch, than have to turn to some sketchy foreign site. We have a chance to set the standard globally, and I hope we dont miss it.
I know there are worries about things like insider trading or manipulation, and I get that those are real risks. But arent those already illegal? The CFTC has tools to go after bad actors without shutting down entire markets. Banning prediction markets to stop a few cheaters feels like punishing everyone for the actions of a few. I also dont see this as gambling. Trading on these platforms takes research and judgment, just like any other investment. In response to Questions 7 and 15 from the ANPR, Id say the public interest is served by keeping these markets open under clear rules, and they shouldnt be labeled as gaming when they serve a real economic purpose.
Im asking the CFTC to support proportionate regulation of prediction markets. Dont ban or overly restrict them. Let regular folks like me continue to participate in a safe, regulated space, and let the US stay a leader in this innovative field. Thank you for considering my input.
Sincerely,
Antonio Ramirez
