Comment Text:
Dear Chairman and Commissioners,
My name is Shaun Griffith, and Im a student and everyday citizen from Georgia writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Ive used prediction markets like Kalshi and Polymarket a few times, and I want to express my support for regulating these platforms in a way that keeps them accessible to regular people like me, while addressing real concerns.
Living in Georgia, Ive noticed that a lot of online trading and gambling apps arent even legal here. Thats why platforms like Kalshi, which operate under CFTC oversight, feel like a safe and legitimate option for someone like me whos just trying to engage with current events and maybe make a little money on the side. Ive placed a few trades on election outcomes and economic data releases, and its been eye-opening to see how these markets aggregate information. The prices often seem more reliable than what I hear from news pundits or polls. That kind of insight shouldnt just be for big institutions. Regular folks like me deserve access too.
That said, Im not blind to some issues. For instance, Ive noticed that cashing out on a position when an event isnt certain yet can feel tricky. Sometimes it seems like the market is overselling a position for a gain that might not even happen, or the opposite when Im trying to cut a loss. It makes me wonder if theres a way to improve liquidity or transparency in how these trades are valued before an event resolves. Id like the CFTC to look into that, maybe under the core principles and regulations topic in Questions 1-6 of the ANPR.
But heres my bigger point. Regulated markets like Kalshi are far safer than unregulated offshore platforms like Polymarket. If you over-restrict or ban prediction markets, people arent just going to stop trading. Theyll go to those offshore sites where theres no oversight, no consumer protection, and no accountability. Id much rather trade on a platform where the CFTC has rules in place to prevent manipulation or insider trading, which I see addressed in Questions 29-32 about inside information. Banning these markets to stop a few bad actors feels like punishing everyone else. Youve already got laws against insider trading and market manipulation. Use those tools instead of shutting things down.
I believe in the freedom to participate in legal, regulated markets. Prediction markets arent gambling to me. They take research and judgment, just like investing in stocks. Im asking you to support proportionate regulation that keeps these markets open to everyday people, while tackling specific risks with targeted rules. Dont ban or over-restrict something thats useful and fair when done right.
Thank you for considering my input.
Sincerely,
Shaun Griffith
