Comment Text:
Dear Chairman and Commissioners,
My name is Gunnar Blanchard, and I'm a sports bettor from Vermont. I've been placing bets on sports for years, and more recently, I've been actively trading on prediction markets like Kalshi. I'm writing to comment on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I strongly support the idea of well-regulated prediction markets, and I want to share why I think they should be allowed to operate with fair rules, not heavy-handed bans or restrictions.
Look, I'm a regular guy who enjoys betting on sports, and I see prediction markets as just another way to engage with events that matter to me. It's not so different from what I do on platforms like DraftKings. If people want to bet on things, whether it's a football game or an election outcome, they should have the freedom to do so in a legal, regulated space. I've been using Kalshi for a while now, and I appreciate that it's above board and overseen by the CFTC. That makes me feel a lot safer than if I had to turn to some shady offshore site with no accountability. Honestly, if the CFTC cracks down too hard and pushes these markets out of reach, people like me aren't just going to stop. We'll end up on unregulated platforms where there's no protection at all. Thats not a good outcome for anyone.
I know there are concerns about things like manipulation or insider trading, and I get that. Nobody wants a rigged game. But the CFTC already has rules and tools to deal with bad actors in other markets, and those should apply here too. Banning or over-restricting prediction markets because of a few potential cheaters feels like punishing everyone for something most of us aren't doing. Plus, trading on Kalshi isn't just blind gambling. It takes research and thought, just like picking a sports bet based on stats and trends. It's a legitimate activity, and I think regular folks should have the right to participate.
I'm especially drawn to your questions in the Public Interest section, like Question 7 about balancing innovation with consumer protection. I think regulated markets like Kalshi strike that balance by giving people access to unique information and a way to hedge risks, while still having oversight to keep things fair. I'd also point to Question 14, about comparing these markets to other products. To me, it's no different than sports betting platforms that are legal in many states. Why treat prediction markets differently?
I urge the CFTC to support proportionate regulation that lets prediction markets operate legally and safely. Don't ban or over-restrict them. Maybe even encourage platforms to toss in some promotions now and then to keep users engaged, but the main thing is keeping these markets accessible and regulated here in the U.S. Thanks for considering my input.
Sincerely,
Gunnar Blanchard
