Comment Text:
Dear Chairman and Commissioners,
My name is Akeen Hutchinson, and I'm a trader and investor based in Connecticut. I've been actively trading on prediction markets like Kalshi for a while now, and Im writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I strongly support well-regulated prediction markets and believe they provide real value to people like me, as well as to society at large.
As a trader, Ive seen firsthand how prediction markets offer information you cant find anywhere else. Their forecasts are often more accurate than polls or pundits, and thats not just useful for those of us trading, but for anyone making decisions, whether its a business owner, a policymaker, or just a regular person trying to understand whats coming next. On Kalshi, Ive been able to hedge real risks that impact my financial planning, like election outcomes that could affect tax policies or economic indicators that influence my investments. This isnt gambling. Its about research, judgment, and managing uncertainty, much like any other investment I make.
I also want to stress that regulated platforms like Kalshi are far safer than the unregulated offshore alternatives out there. If the CFTC over-restricts or bans these markets, people like me wont just stop trading. Well be pushed to less secure, less transparent platforms where theres no oversight. Thats a worse outcome for consumer protection, not a better one. Regulation done right keeps us safe while letting these markets thrive. And lets not forget, informed trading actually improves price discovery. When people with knowledge participate, the prices get sharper, and that benefits everyone, not just the traders.
Id like to address a couple of specific questions from the ANPR. On Question 7, regarding balancing innovation and consumer protection, I believe the CFTC can achieve both by focusing on strong oversight rather than broad prohibitions. And on Question 29, about inside information, I think informed traders often make markets more accurate, though I agree the CFTC should enforce existing laws against misuse of nonpublic information rather than banning entire categories of contracts.
Im asking the CFTC to support proportionate regulation of prediction markets. Dont ban or over-restrict them. Keep platforms like Kalshi accessible under clear, fair rules that protect consumers while preserving the unique benefits these markets offer. Thanks for considering my perspective.
Sincerely,
Akeen Hutchinson
