Comment Text:
Dear Chairman and Commissioners,
My name is Scott Curry, and I'm a small business owner based in Colorado. Im writing to express my strong support for the proportionate regulation of prediction markets, as discussed in the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). Ive been an active trader on regulated platforms like Kalshi, and I believe these markets provide real value to people like me, while also benefiting society through better information and innovation.
As a business owner, I deal with uncertainty every day, whether its economic shifts, regulatory changes, or political events that could impact my operations. Trading on prediction markets has given me a way to hedge some of that risk and make informed decisions. Beyond that personal benefit, Ive seen how these markets produce forecasts that often beat polls or pundits. That kind of aggregated insight isnt just useful for traders; it helps everyone understand whats likely to happen. I also value the freedom to participate in legal, regulated markets. Shutting regular folks like me out would only concentrate the benefits with big institutions, and that doesnt seem fair.
Im particularly concerned about the idea of banning or over-restricting these markets. If the U.S. clamps down, activity wont disappear; itll just move to unregulated offshore platforms where theres no oversight. Id much rather trade on a CFTC-regulated platform like Kalshi, where there are rules and protections in place, than be pushed to some sketchy foreign site. The CFTC already has strong tools to tackle manipulation and insider trading in other derivatives markets. I trust those can be adapted here without resorting to heavy-handed restrictions. Plus, informed trading actually improves price discovery, which benefits all of us by making the markets predictions more accurate.
I also want to stress that the U.S. should be a leader in financial innovation. If we over-regulate or ban prediction markets, were handing the future of this technology to other countries. Thats a missed opportunity for American businesses and investors. Regarding some of the specific questions in the ANPR, I think Question 7 on balancing innovation with consumer protection is key. Regulation should focus on specific risks, not broad prohibitions. And in response to Question 29 on inside information, I believe informed traders often make markets more accurate, as long as existing laws against insider trading are enforced.
I urge the CFTC to support well-regulated prediction markets that allow participation by everyday Americans like me. Dont let over-regulation push this valuable tool offshore or out of reach. Thank you for considering my perspective.
Sincerely,
Scott Curry
