Comment Text:
Dear Chairman and Commissioners,
How dare you take away my ability to gamble on my phone. Everything is gambling now and I am an American adult. Theres no difference between this and the stock market and roulette. Except this has actual upside and Im better at predicting than you are. Youre just mad I gamble better than you. Youre not allowed to regulate my freedom its in the constitution and this is America.
My name is Balls Mcgee, and I'm a software engineer from Ohio. I'm writing to express my strong support for well-regulated prediction markets in response to the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). As someone who actively trades on platforms like Kalshi, Ive seen firsthand how these markets provide valuable information and opportunities for regular people like me. Im passionate about keeping these markets legal and accessible, and Im worried about the US falling behind in financial innovation if we over-restrict them.
I love trading on prediction markets because they give me insights I cant find anywhere else. Whether its an election outcome or an economic data release, the prices reflect a crowd-sourced truth that often beats out polls or pundits. This isnt just fun for me, its useful. Im not some Wall Street big shot, just a tech guy who likes digging into data and making informed bets on what I think will happen. Shutting down or heavily restricting these markets would cut off regular folks like me from participating, and thats not fair. It would just hand all the benefits back to the big institutions.
I also want to push back on the idea that this is gambling. Yeah, I enjoy the thrill, no question. But trading on Kalshi takes real research and judgment, just like any other investment I make. Its not a slot machine, its a way to engage with the world. And honestly, if you ban or over-regulate these markets, people arent going to stop. Theyll just go to offshore platforms with no oversight, no consumer protections, nothing. Id much rather trade on a regulated US market where the CFTC can keep an eye on things than be forced to some sketchy site overseas.
On the innovation front, the US should be leading the charge here. I work in tech, and I see how fast other countries are moving on financial tools and platforms. If we clamp down on prediction markets, were just ceding ground to places that dont care about our rules. Lets keep this industry here, under proper regulation, so we can set the standard.
I noticed a few of your questions in the ANPR, like Question 7 on balancing innovation with consumer protection and Question 15 on defining whats legitimate versus gaming. My take is simple: focus on targeted rules to stop bad actors, dont throw out the whole concept. Youve already got tools to handle manipulation and insider trading. Use them. Dont punish the rest of us.
Im asking you to support proportionate regulation of prediction markets. Keep them legal, keep them accessible, and dont let overblown fears shut down something thats valuable to so many. Thanks for considering my input.
Sincerely,
Balls Mcgee
