Comment Text:
Dear Chairman and Commissioners,
My name is Kate Carson, and I'm just a regular citizen from Texas writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been actively trading on platforms like Kalshi for a while now, and I strongly support the idea of well-regulated prediction markets. I hope my perspective as an everyday user can help shape your approach.
For me, prediction markets aren't just a hobby, they're a valuable tool. I rely on them to get a clearer picture of what's happening with elections and other big public events. Honestly, the forecasts on these platforms have been way more accurate than any poll or pundit I've come across. That kind of insight isn't just useful for traders like me, it helps everyone make better decisions, whether it's planning for the future or just understanding the world. Beyond that, I use these markets to hedge personal financial risks. For example, I've placed trades on election outcomes that could impact my taxes or local policies here in Texas. It's a practical way to protect myself from uncertainty, much like how people use other financial tools.
I also want to address a concern I've heard floating around. Some worry that prediction markets could be misused or lead to problems like manipulation. I get that. But banning or over-restricting them isn't the answer. If you push too hard, people like me will just turn to offshore platforms that aren't regulated at all. That's less safe for everyone. The CFTC already has tools to tackle bad actors, and I think focusing on enforcing those rules makes more sense than broad restrictions. Plus, these markets help individuals and businesses hedge real risks. Shutting them down would take away a resource many of us depend on.
I'm particularly drawn to some of the questions in your notice, like those in Topic Area B about balancing innovation and consumer protection (Questions 7-14). I believe regulated markets like Kalshi strike that balance by giving regular folks access to useful tools while still operating under oversight. And on a lighter note, I'll admit that trading on sports events through Kalshi makes watching games a whole lot more exciting. It adds a little spark to life, and I think that's worth preserving too.
I urge you to support proportionate regulation of prediction markets. Don't ban or overly restrict them. Let's keep these platforms accessible, safe, and regulated right here in the US. Thank you for taking the time to consider my input.
Sincerely,
Kate Carson
