Comment Text:
Dear Chairman and Commissioners,
My name is Jager Benjamin, and I'm just an everyday citizen from Alabama writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been trading on platforms like Kalshi for a while now, and I believe these markets are valuable tools that deserve to be regulated in a fair and thoughtful way, not banned or overly restricted.
I got into prediction markets because I wanted a way to make sense of the uncertainty around events that affect my life, like elections or economic decisions. The prices on these markets often give me a clearer picture than what I hear on the news or see in polls. It's not gambling to me; it's about researching and making informed guesses, much like I do when I put money into stocks or other investments. Plus, I've used these markets to hedge risks that hit close to home, like policy changes that could impact my job or costs. I think this kind of access is important for regular folks like me, not just big investors.
What worries me is the idea of broad bans or heavy-handed rules that could push these markets offshore to unregulated platforms. I've seen what happens when things go underground. There's no oversight, no protection if something goes wrong, and no way to ensure fairness. That's why I strongly support proportionate regulation by the CFTC. Keep these markets on registered platforms like Kalshi where you can watch for manipulation or insider trading and step in if needed. You already have tools to handle bad actors, so use those instead of shutting everything down. A total ban would punish honest traders like me while the real problems just move somewhere you can't reach.
I'm particularly interested in your questions on consumer protection and public interest, like those in Questions 7 through 14 of the ANPR. I believe regulated prediction markets strike a good balance between innovation and safety. They let people like me participate in a system thats transparent, while giving the CFTC the power to stop fraud or abuse. I'd also urge you to look at Questions 23 to 28 on procedural aspects. Please focus on specific risks with targeted rules instead of blanket prohibitions that could kill off a useful tool.
I appreciate the chance to weigh in on this. Prediction markets have been helpful to me, and I think they can benefit society if handled right. I ask that you support fair, targeted regulation that keeps these markets accessible and safe under your oversight, rather than pushing them out of reach. Thank you for considering my input.
Sincerely,
Jager Benjamin
