Comment Text:
Dear Chairman and Commissioners,
My name is Jean Sanchez, and I'm just an everyday citizen from Florida writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm new to prediction markets, but I believe they have a lot of potential, and I want to see them regulated in a way that works for regular people like me, while keeping things safe and fair.
I first got interested in prediction markets because I saw how they can provide information you can't find anywhere else. I've read about studies showing that these markets often predict outcomes better than polls or experts. That kind of transparency and data is valuable to everyone, not just traders. It helps us understand what's really likely to happen, whether it's about elections, economic trends, or even sports outcomes. As someone who values clear, reliable information, I think the CFTC should encourage this kind of innovation, not restrict it.
One thing I'm worried about, though, is the idea of pushing these markets offshore by making rules too tight. I've looked into platforms like Kalshi, which are regulated here in the U.S., and they seem much safer than unregulated sites based in other countries. If we over-regulate or ban certain types of contracts, people will just go to those offshore sites where there's no oversight. I'd rather see the CFTC focus on keeping markets here, under your watch, with strong rules to prevent fraud or manipulation. You already have the power to stop bad actors, so use those tools instead of limiting what we can trade on.
Speaking of what to trade on, I have a personal request. I'm a big soccer fan, and I'd love to see more options for event contracts related to sports, especially soccer. Right now, it's often complicated to trade on outcomes like a team winning or drawing; you have to make separate plays. I'd like options for handicaps, combined win/draw outcomes, corners, or even shots on target for players. And not just for the big leagues, but for others like the MX League or CONMEBOL, which have huge followings but aren't always covered. I don't know if this fits under your rules, but I hope you'll consider expanding the types of contracts allowed so fans like me can engage more.
I also want to address a concern Ive seen raised, like in your questions 7 to 14 about public interest. I get that some worry prediction markets could be seen as gambling or risky. But to me, this isn't gambling; it takes research and judgment, just like investing in stocks. The answer isn't to ban them, but to regulate them smartly. I'm especially drawn to your questions 23 to 28 on procedural aspects. I think the CFTC should review contracts individually for public interest, not just ban whole categories, to make sure good ideas aren't shut out.
In closing, I urge you to support proportionate regulation of prediction markets. Keep them here in the U.S., make them safe, and let regular people like me participate. Thanks for reading my thoughts.
Sincerely,
Jean Sanchez
