Comment Text:
Dear Chairman and Commissioners,
My name is Meagan Vanzyl, and I'm a 60-year-old resident of Virginia with a strong interest in politics. I'm writing in response to the Advance Notice of Proposed Rulemaking on Prediction Markets, published in the Federal Register as 91 FR 12516. As someone who actively trades on platforms like Kalshi, I want to express my support for well-regulated prediction markets and urge the CFTC to adopt proportionate rules that allow ordinary citizens like me to participate in these legal markets.
I've been following politics for decades, and I find prediction markets to be an invaluable tool. They're not just a hobby; they give me a way to hedge real risks tied to political and economic events. For example, election outcomes can affect policies that impact my retirement savings or healthcare costs. Trading on Kalshi lets me offset some of that uncertainty, much like someone might hedge against weather risks or commodity prices. I believe this utility extends beyond individuals to businesses that face similar uncertainties, and it's a legitimate economic purpose, not gambling. Classifying event contracts as "gaming" feels like a misstep to me, and I hope the CFTC considers this in response to Questions 15-22 on listed activities.
I also worry that banning or over-restricting these markets will push activity offshore to unregulated platforms. I've seen how easy it is to access foreign sites, and they don't have the safeguards of a CFTC-registered market like Kalshi. Keeping these markets regulated here in the US is safer for everyone. Plus, the US should be a leader in financial innovation. Why let other countries take the lead on something we can do better under proper oversight? This ties into Questions 7-14 on public interest, where I think innovation and consumer protection can go hand in hand with the right rules.
I'm not blind to concerns about manipulation or insider trading, but I believe the answer is targeted regulation, not broad bans. The CFTC already has tools to combat bad actors, and informed trading actually helps price discovery, making markets more accurate for everyone. This relates to Questions 29-32 on inside information, where I think the focus should be on enforcing existing laws rather than restricting access. Shutting down markets to stop a few cheaters punishes law-abiding participants like me.
At my age, I value the freedom to engage in legal, regulated activities that let me stay informed and protect my financial future. I ask the CFTC to support proportionate regulation of prediction markets, ensuring access for everyday citizens while addressing specific risks with focused rules. Let's not ban or over-restrict a tool that benefits so many.
Sincerely,
Meagan Vanzyl
