Comment Text:
Dear Chairman and Commissioners,
My name is Ronnie Atkins, and I'm just an everyday citizen from Georgia writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've used prediction markets a few times, and I believe they have real value for people like me. I'm not an expert or a big-time trader, but I do care deeply about having the freedom to participate in legal, regulated markets, and I hope my perspective is helpful as you consider how to approach this issue.
I've always found prediction markets fascinating because they seem to cut through the noise. Where polls and pundits often miss the mark or push their own agendas, prediction markets give a clearer picture of what's likely to happen. I've seen this myself when I placed small trades on platforms like Kalshi, trying to gauge things like election outcomes or economic indicators. The prices on these markets often turned out to be more accurate than anything I heard on the news or read online. That kind of information isn't just useful to traders; it helps regular folks like me make sense of a complicated world. I think it's a public good that should be protected, not restricted.
I also believe that letting everyday people participate in these markets is important. If only big institutions or wealthy insiders get to trade, then all that valuable information stays with them. I've done my own research before making trades, reading up on issues and thinking hard about what might happen. It's not gambling; it's a way to engage with real-world events. I'm worried that over-regulating or banning these markets would shut out people like me and push activity to unregulated, offshore platforms where there's no oversight at all.
I'm aware of some of the concerns, like the risk of manipulation or insider trading. I get that those are real issues. But aren't there already laws against that kind of behavior? From what I understand, the CFTC has tools to go after bad actors without shutting down entire markets. I'd urge you to focus on enforcing those existing rules rather than creating broad restrictions that punish everyone.
Specifically, regarding some of the questions in the ANPR, I think Question 7 about balancing innovation and consumer protection is key. Prediction markets are innovative, and they help people like me access unique information. And on Question 15, about defining what counts as "gaming," I strongly feel these markets aren't just games; they take real thought and provide real value.
I hope you'll support proportionate regulation of prediction markets. Please don't ban or overly restrict them. Let regular folks like me continue to participate in a safe, regulated environment under the CFTC's oversight.
Thank you for considering my comments.
Sincerely,
Ronnie Atkins
