Comment Text:
Dear Chairman and Commissioners,
My name is Chad Williams, and I'm just a regular guy from Montana whos fed up with the government always sticking its nose where it doesnt belong. Im writing about the Advance Notice of Proposed Rulemaking on Prediction Markets, published in the Federal Register as 91 FR 12516. I trade on platforms like Kalshi, and I strongly support keeping these markets legal and regulated in a fair way. Ive had enough of Washington trying to control every little thing we do, and I want to make sure my voice is heard on this.
Prediction markets arent just some game to me. Theyre a tool. I use them to make sense of the chaos in elections and other big public events. Honestly, the forecasts on these platforms are way sharper than anything I hear from talking heads on TV or see in polls. Thats valuable to me as a citizen trying to figure out whats really going on. And no, this isnt gambling. I put in time researching, reading up on issues, and making calls based on what I think will happen. Thats no different from betting on stocks or commodities. Calling it gaming is nonsense, and Im glad the CFTC is asking for input on how to define this properly in Questions 15-22 about listed activities.
I also believe the US should be leading the charge on financial innovation. Why let other countries take the wheel on something like this? If we over-regulate or ban these markets, were just pushing people to sketchy offshore platforms with no oversight. Id rather see a system where regular folks like me can participate in a legal, supervised space. That ties into Questions 7-14 on public interest, where youre asking about balancing innovation and consumer protection. My take? Dont kill the innovation by overreacting to risks.
On that note, I get that some folks worry about insider trading or manipulation. Fine, those are real concerns. But the answer isnt to slap down broad bans or choke these markets with rules that make them impossible to use. Targeted regulation is the way to go. Punish the bad actors, sure, but dont punish the rest of us who are just trying to engage with the world in a smart way. Youve already got tools to handle fraud and manipulation, as you bring up in Questions 1-6 on core principles. Use them. Dont reinvent the wheel with heavy-handed restrictions.
Look, Im no fan of how things are run in Washington, and Ive got plenty of gripes about where our priorities lie. But this is simple. Keep prediction markets legal. Let regular people like me have the freedom to trade in a regulated space. Sportsbooks stay open, so why shouldnt this? Im asking you to support proportionate rules that protect without destroying. Dont let the US fall behind on something we can lead.
Sincerely,
Chad Williams
