Comment Text:
Dear Chairman and Commissioners,
My name is Alex Thomson, and I'm a firefighter from Utah. I've been serving my community for over a decade, working long shifts to keep people safe. In my off hours, Ive taken an interest in prediction markets, actively trading on platforms like Kalshi. Im writing to support the proportionate regulation of prediction markets as outlined in your Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I believe these markets are valuable, and I want to share why they matter to someone like me.
As a firefighter, Im not some Wall Street trader. Im just a regular guy who works hard and tries to stay informed about the world. Trading on prediction markets gives me a way to engage with events that affect my life, like economic policies or weather events that could impact my job or family. Its not gambling to me; its about researching and making informed decisions, much like any other investment. I value the freedom to participate in legal, regulated markets like Kalshi, where I know there are rules in place to protect users. Thats a big deal for someone who doesnt have the time or resources to navigate risky, unregulated spaces.
What worries me is the idea of over-restricting or banning these markets. If regulated platforms like Kalshi are shut down or overly limited, people like me will be pushed toward offshore, unregulated sites with no oversight. Ive seen what happens when things arent properly regulated in other areas of life; its always the regular folks who get hurt the most. A safe, CFTC-regulated market is far better than driving activity underground where theres no accountability. I think your existing tools for preventing manipulation and insider trading can work here too, without throwing the baby out with the bathwater.
I also want to address a couple of specific questions from your ANPR. On Question 7, about balancing innovation and consumer protection, I think regulated prediction markets strike that balance by giving people access to useful information while having safeguards in place. And on Question 29, regarding informed traders, I believe having knowledgeable participants makes the markets predictions more accurate, which benefits everyone, not just traders.
I urge you to support well-regulated prediction markets that allow regular Americans like me to participate safely. Dont let heavy-handed restrictions or outright bans push this activity into unsafe, offshore platforms. Focus on using the tools you already have to address risks while preserving access for everyday people.
Thank you for considering my perspective.
Sincerely,
Alex Thomson
