Comment Text:
Dear Chairman and Commissioners,
My name is Cheryl Corbin, and I'm a small business owner from Washington state. Im 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 the value these markets provide, and Im concerned about the risks of over-restricting or banning them outright.
Running a business means Im always looking for reliable information to make decisions, especially around elections and public events that can impact my operations. Prediction markets give me access to forecasts that are often more accurate than polls or pundits. Ive used Kalshi to gauge outcomes on things like policy changes that could affect my supply chain or taxes. This isnt just helpful for me; its valuable for the public too. Better price discovery means better decision-making for everyone, from individuals to policymakers. Ive also read about the academic research backing this up, studies showing how these markets aggregate information efficiently. That transparency and data should be encouraged, not stifled.
What worries me is the idea of banning or heavily restricting these markets. I trade on a regulated platform like Kalshi because its safe and accountable. If the CFTC over-regulates or shuts down these legitimate venues, people like me will be pushed to unregulated offshore platforms with no oversight. Thats not protecting anyone; its just driving activity into the shadows. The U.S. should be leading in financial innovation, not handing the advantage to other countries. We have the chance to set a global standard here, and I hope we take it.
I appreciate that the CFTC is asking for input on balancing innovation with protection, as seen in questions 7 through 14 on public interest. My view is simple: proportionate regulation works better than broad bans. Target the real risks, like manipulation or insider trading, with specific rules instead of categorical prohibitions. Questions 15 to 22 on listed activities also matter to me. I want the freedom to participate in legal, regulated markets without them being mislabeled as gaming. These are serious tools for forecasting and hedging, not gambling.
Im not blind to the concerns about bad actors, but the CFTC already has tools to handle manipulation and fraud. Use those instead of punishing everyone by restricting access. I urge you to support prediction markets with fair, targeted regulations that keep them safe and accessible for people like me. Lets keep the U.S. at the forefront of innovation while protecting consumers.
Thank you for considering my perspective.
Sincerely,
Cheryl Corbin
