Comment Text:
Dear Chairman and Commissioners,
My name is Katherine Granger, and I'm a healthcare professional, student, and small business owner from Louisiana. I'm writing to express my strong support for the proportionate regulation of prediction markets as outlined in your Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). As someone who actively trades on platforms like Kalshi, I've seen firsthand how these markets provide unique value, both to me personally and to society at large, and I believe the CFTC should foster their growth with sensible, targeted rules rather than restrictive bans.
Running a small business and planning a future medical device company to improve hospital outcomes and reduce mortality rates, I rely on prediction markets to help me make informed decisions. These platforms give me a heads-up on trends, whether it's gauging investor interest in health tech or assessing economic events that could impact material costs or funding opportunities. Just last month, trading on Kalshi helped me better understand public sentiment around a policy change that could affect healthcare regulations, prompting me to research deeper into topics I wouldn't have otherwise noticed. This isn't gambling, it's research and judgment, much like investing in stocks or commodities. Classifying event contracts as "gaming" ignores their real economic purpose, as raised in Questions 15-22 of your ANPR.
I also use prediction markets to hedge real financial risks tied to my business and personal life. For example, hedging against election outcomes or economic data releases like CPI helps me plan for potential tax changes or supply chain disruptions. This utility, which aligns with Questions 7-14 on public interest, shows how these markets aren't just for speculation, they serve practical needs for people like me. Plus, the forecasting accuracy of prediction markets often beats polls or pundits, providing better information for public decision-making and price discovery. That benefits everyone, not just traders.
I understand concerns about manipulation or insider trading, as discussed in Questions 29-32, but the CFTC already has strong tools to address these issues in other derivatives markets. Applying those existing safeguards makes more sense than broad bans, which would only push activity to unregulated offshore platforms where there's no consumer protection. I've traded on Kalshi, a regulated market, and I feel far safer there than I would on some overseas site. Banning or over-restricting these markets would hurt regular folks like me while letting bad actors slip through the cracks elsewhere.
Finally, I believe the US should lead in financial innovation, not cede ground to other countries. Regulated prediction markets, supported by academic research showing their value in aggregating information, position us as pioneers. I urge you to focus on proportionate regulation, as touched on in Questions 1-6, targeting specific risks rather than entire categories of contracts. Please support the growth of prediction markets with fair, practical rules that protect consumers while allowing innovation and participation.
Thank you for considering my input.
Sincerely,
Katherine Granger
