Comment Text:
Dear Chairman and Commissioners,
My name is Garrett Temme, and I'm just an everyday citizen from Nebraska writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been actively trading on platforms like Kalshi for a while now, and I believe these markets are valuable for people like me. I wanted to weigh in because I think the CFTC has a real chance to get this right with fair regulation, not heavy-handed restrictions.
I rely on prediction markets for insights I can't get anywhere else, especially around elections and big public events. The prices often tell a clearer story than polls or news pundits, and that helps me make sense of what's coming. As someone from a rural state like Nebraska, I appreciate having access to this kind of information. It's not just for traders; it helps everyone understand the world a bit better. I'm also convinced these markets aren't gambling. Trading on Kalshi takes research and judgment, just like when I think about investing in stocks or other assets. Classifying event contracts as "gaming" feels wrong to me because they serve real purposes, like forecasting and even hedging risks. I hope the CFTC considers this point seriously, especially in response to questions 15 through 22 about defining gaming versus legitimate markets.
I also worry that if the U.S. doesn't regulate these markets properly, we'll lose ground to other countries. We should be leading the way on financial innovation, not pushing people to unregulated offshore platforms where there's no consumer protection at all. I've seen how Kalshi operates under CFTC oversight, and that gives me confidence as a user. Banning or over-restricting these markets would just drive activity to less safe places. This ties into questions 7 through 14 on balancing innovation and protection, and I think regulation is the answer, not prohibition.
Another thing I want to highlight is how informed trading makes these markets better for everyone. When people with good information trade, the prices get sharper, and that benefits all of us, not just the traders. I don't think the answer to concerns about insider trading is to shut down the markets. There are already laws against that, and the CFTC has tools to enforce them. This connects to questions 29 through 32 on inside information, and my view is that the focus should be on enforcement, not broad bans.
I'm just a regular guy who values the freedom to participate in legal, regulated markets like these. I urge the CFTC to support proportionate regulation of prediction markets and avoid overly restrictive rules or outright bans. Let's keep these markets safe and accessible for everyday Americans like me.
Thank you for considering my input.
Sincerely,
Garrett Temme
