Comment Text:
Dear Chairman and Commissioners,
My name is Anthony Ruvino, 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. I appreciate the chance to weigh in on this issue because, frankly, us Californians have it tough with so many rules and restrictions already. It means a lot to have the freedom to participate in something like prediction markets, and I hope youll keep that door open with fair regulation.
Ive used prediction markets a few times, and I can tell you theyre not just some game or gambling scheme. Theyre a way for regular people like me to engage with whats happening in the world, whether its an election, economic news, or other big events. Ive found the information and pricing on these platforms to be more reliable than a lot of the talking heads on TV or even some polls. Its a tool that helps me make sense of things, and I think that benefits everyone, not just those of us trading.
What I care about most is keeping the freedom to participate in legal, regulated markets. Im not some big-shot investor or institution. Im just a guy who wants a fair shot at using these platforms without being shut out. If you limit access to only the big players, all the valuable information stays with them, and thats not right. Letting everyday folks like me take part makes the system fairer and, honestly, probably makes the predictions sharper because more voices are in the mix.
I know there are worries about manipulation or insider trading, and I get that those are real concerns. But heres the thing: the CFTC already has strong tools to handle those problems. Youve got the power to go after anyone trying to rig the market or trade on info they shouldnt have. I dont see why youd need to ban or over-restrict prediction markets when you can just use the rules already in place. Shutting down these markets to stop a few bad actors feels like punishing the rest of us who are playing by the rules. Im particularly drawn to your questions 29 through 32 on inside information, and Id urge you to focus on enforcing existing laws rather than creating broad bans that hurt regular participants.
Im asking you to support proportionate regulation of prediction markets. Dont ban them or make the rules so tight that people like me cant take part. Keep these markets legal and regulated under your oversight so they stay safe and fair for everyone. Thanks for listening to my perspective.
Sincerely,
Anthony Ruvino
