Comment Text:
Dear Chairman and Commissioners,
My name is Gregory Simon, and I'm just an everyday citizen from California writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not a lawyer or a finance expert, just someone who has found value in trading on platforms like Kalshi, and I want to urge the CFTC to support fair and proportionate regulation of these markets rather than overly restrictive rules or outright bans.
Ive been trading on prediction markets for a while now, and I can honestly say they provide information that I cant get anywhere else. Whether its an election outcome or an economic indicator, the prices on these platforms often seem to cut through the noise of polls and pundits. Ive seen firsthand how they can be more accurate, and I believe that benefits everyone, not just traders like me. Its not gambling, either. It takes research and real-world judgment, much like any other kind of investing. Plus, having access to these markets as an ordinary person feels fair. If only big institutions could participate, all that valuable information would stay locked up with them. I think democratizing access is a strength, not a problem.
What really concerns me is the idea of pushing these markets underground. I trade on Kalshi because its regulated by the CFTC, which gives me confidence that there are rules in place to protect users. If prediction markets face heavy restrictions or bans, people like me might turn to unregulated offshore platforms instead. Thats not safer for anyone. Regulated markets keep things transparent and accountable, and Id hate to see activity driven to sketchy corners of the internet where theres no oversight at all.
I noticed in your ANPR that youre asking about balancing innovation with consumer protection under Topic B, specifically in Question 7. My view is that you can achieve both by focusing on clear rules for platforms like Kalshi rather than broad prohibitions. And regarding Topic D, Question 23, about when public interest determinations should happen, I think its better to assess markets on a case-by-case basis instead of blanket restrictions that might stifle something useful.
Im asking the CFTC to support well-regulated prediction markets that allow regular people like me to participate legally and safely. Please dont let a few potential bad actors or risks lead to over-restrictive policies that punish everyone else. Focus on enforcing the tools you already have against manipulation and insider trading, and keep these markets accessible under fair oversight.
Thank you for considering my input.
Sincerely,
Gregory Simon
