Comment Text:
Dear Chairman and Commissioners,
My name is Bryant Hales, and I'm just an everyday citizen from Montana. I'm 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, and I strongly support the idea of well-regulated prediction markets. I hope my perspective as a regular person using these markets can help inform your approach.
I believe prediction markets are valuable, and I want the freedom to participate in legal, regulated spaces. These markets aren't just games or gambling. They serve real economic purposes, like helping me make informed decisions about events that affect my life, whether it's a policy change or an economic shift. I've spent hours researching before placing trades on Kalshi, and it feels a lot like the work I put into understanding other investments. Classifying event contracts as "gaming" doesn't make sense to me, and I urge you to see them as legitimate financial tools, especially in response to questions 15 through 22 about listed activities.
I'm also worried that banning or over-restricting these markets will push people like me to unregulated offshore platforms. I've seen how easy it is to access foreign sites, but I'd much rather trade on a CFTC-regulated platform where I know there are protections in place. If the rules get too tight, regular folks will lose access to safe markets, and only the big players or risk-takers will find workarounds. This ties into questions 7 through 14 on public interest, where I think the balance should lean toward keeping innovation alive while protecting consumers through oversight, not outright bans.
Finally, I believe the United States should be a leader in financial innovation. We shouldn't let other countries take the lead on something that could be a powerful tool for price discovery and civic engagement. I've learned so much about current events and policy just by trading on these platforms. If we stifle this industry, we're handing the future to others. This connects to questions 33 through 40 on classification and costs, where I hope you'll consider how regulation can support growth without crushing small participants like me.
I appreciate the CFTC taking the time to ask for input. I'm not an expert, but as someone who uses these markets, I can say they matter to regular people. Please support proportionate regulation that keeps prediction markets accessible and safe, without over-restricting or banning them. Thank you for considering my views.
Sincerely,
Bryant Hales
