Comment Text:
Dear Chairman and Commissioners,
My name is Krish Krish, and I'm a trader and investor from Oregon. By day, I work at a restaurant, managing shifts and dealing with the ups and downs of the service industry. In my personal time, I actively trade on prediction markets like Kalshi, and Im writing to express my strong support for well-regulated prediction markets as outlined in your Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I believe these markets are valuable, and I want to share why they matter to someone like me.
As someone who works hard for a living, I value the freedom to participate in legal, regulated markets. Trading on platforms like Kalshi gives me a chance to engage with events that impact my life, like inflation numbers that affect my grocery bills or interest rate decisions that hit my savings. It's not just a game to me. It takes research and thought, much like any other investment I make. Ive found that prediction markets often provide insights I cant get from news or polls. They cut through the noise and give a clearer picture of what might happen. Thats useful not just for me, but for anyone trying to make informed decisions.
What I really want to stress is the safety of regulated markets. I trade on Kalshi because its overseen by the CFTC. I know there are rules in place to protect people like me from fraud or manipulation. If we over-restrict or ban these markets, I worry that activity will just move to unregulated offshore platforms where theres no oversight. Ive seen friends dabble in sketchy sites, and theyve lost money with no recourse. Thats not a solution. Keeping prediction markets legal and regulated here in the U.S. means people like me can participate without taking crazy risks. Its about access, but safe access.
I also want to touch on a couple of your specific questions from the ANPR. On Question 7, regarding balancing innovation and consumer protection, I think regulated markets already strike that balance. They let regular folks participate while having guardrails in place. And on Question 29, about inside information, I believe the existing laws against insider trading are enough. The CFTC already has tools to catch bad actors without shutting down entire markets.
Im not saying there are no risks. Sure, some might try to game the system. But banning or over-restricting prediction markets punishes honest participants like me. Instead, I urge you to focus on proportionate regulation that addresses specific issues while allowing these markets to thrive. Please support the freedom to trade in safe, legal, regulated environments.
Thank you for considering my perspective.
Sincerely,
Krish Krish
