Comment Text:
Dear Chairman and Commissioners,
My name is Kori Ortiz, and I'm an everyday citizen from Texas. I'm writing to comment on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been actively trading on regulated prediction markets like Kalshi for a while now, and I strongly support the CFTC crafting fair, proportionate regulations that allow these markets to thrive without being overly restricted or banned.
I got into prediction markets because I wanted a better way to understand what's happening in the world. The prices on these platforms often tell me things I can't find in news articles or polls. They're a unique source of information that helps me make sense of complicated events, whether it's an election or an economic policy change. I believe this kind of data isn't just useful for me, but for the public as a whole. Its a tool for better decision-making, and I think the CFTC should recognize how prediction markets contribute to price discovery, as mentioned in your questions 7 through 14 under the Public Interest section.
What really matters to me is the freedom to participate in legal, regulated markets like Kalshi. I'm not a big investor or a Wall Street type. I'm just a regular person who does my homework and makes informed trades. Shutting down or over-regulating these markets would cut people like me out of a system thats fair and transparent when done right. Plus, I worry about the US falling behind. I've read about how other countries are embracing financial innovation, and I dont want to see the US cede leadership in this space. We should be setting the standard for how prediction markets work, not watching others take the lead. This ties into your questions 33 through 40 on classification and costs, where I think the CFTC should aim for rules that keep innovation alive without burdening small players.
I also appreciate the academic research behind prediction markets. Studies show they aggregate information efficiently, often beating out traditional forecasts. That transparency and data should be something the CFTC values when considering how to regulate, especially under questions 1 through 6 on core principles. Of course, I get the concerns about manipulation or insider trading. Those are real issues. But the CFTC already has tools to tackle fraud and abuse in other markets. Use those tools here instead of broad bans that punish everyone.
I urge you to support well-regulated prediction markets that let everyday folks like me participate while keeping the US competitive. Dont let over-regulation push this innovation offshore or out of reach. Thank you for considering my input.
Sincerely,
Kori Ortiz
