Comment Text:
Dear Chairman and Commissioners,
My name is Josh Brown, and I'm just an everyday citizen from Mississippi writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not an expert or a big trader, just someone who believes in the freedom to participate in legal, regulated markets. Im pretty new to prediction markets, but Ive read enough to see their value, and I want to urge the CFTC to support them with fair rules, not heavy-handed restrictions.
I think prediction markets are important because they give information you cant find anywhere else. From what Ive seen, their forecasts often beat out polls or TV pundits when it comes to predicting elections or other big events. Thats useful for regular folks like me who want to understand whats really likely to happen, not just hear opinions. If only big institutions or insiders can access these markets, then theyre the only ones who benefit from that insight. Letting everyday people participate feels fairer and probably makes the predictions sharper since more voices are in the mix.
I also worry that banning or over-restricting these markets will just push people to unregulated, offshore platforms. Id rather see the CFTC set up clear rules so Americans can trade safely on platforms based here, under your oversight. If we crack down too hard, were not stopping the activity, just sending it where theres no protection at all. That doesnt make sense to me.
On top of that, I believe the United States should be leading the way on financial innovation. Weve always been a country that figures out new ways to do things better. If we stifle prediction markets with tough rules, were handing that leadership to other countries. I want us to be the ones setting the standard, not playing catch-up.
Looking at some of the specific questions in the ANPR, I think my views tie into Question 7 about balancing innovation and consumer protection. Im all for protecting people from fraud or manipulation, but I think you can do that with targeted rules, not by shutting down whole markets. Also, Question 14 about the public interest hits home for me. These markets serve a real purpose by giving better information to everyone, and thats worth supporting.
I know there are concerns about insider trading or manipulation, and I get that. But those are already illegal, and the CFTC has the power to go after bad actors. Dont punish the rest of us by over-restricting something thats useful and fair when done right. Im asking you to support proportionate regulation of prediction markets, so regular people like me can participate in a safe, legal way without fear of bans or excessive barriers.
Thank you for considering my input.
Sincerely,
Josh Brown
