Comment Text:
Dear Chairman and Commissioners,
My name is Rowdy Summers, and I'm a construction worker from Illinois. I work hard all week, swinging hammers and pouring concrete, and when Friday rolls around, I like to unwind by putting a little money on fights or other events through prediction markets like Kalshi. I'm writing to comment on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516) because I believe these markets are valuable and shouldn't be treated like gambling or banned outright.
I've been trading on Kalshi for a while now, and to me, it's not just a game or a bet. It takes real thought and research, just like when I figure out the best way to bid on a job or pick materials for a project. I'm looking at stats, reading up on fighters, or checking economic news for other events. This isn't slots or roulette. It's a way for regular folks like me to use our judgment and maybe make a few bucks. I think it serves a real purpose, not just for fun, but for figuring out what might happen in the world. That's why I don't agree with calling these event contracts "gaming." They're more like investing with a different kind of asset.
What worries me is if the CFTC over-restricts or bans these markets. I've seen buddies of mine turn to shady offshore platforms when they can't trade on regulated sites. Those places don't have any oversight, and if something goes wrong, you're out of luck. Kalshi, being regulated, feels a lot safer. I know there's someone watching to make sure things are on the up and up. If you push these markets underground by making rules too tight, you're not protecting people like me. You're just making it riskier.
I also know there are concerns about manipulation or insider trading. But aren't those things already illegal? From what I understand, the CFTC has the power to go after anyone trying to rig prices or cheat the system. Use those tools. Don't punish the rest of us by shutting down something useful. Banning prediction markets because a few bad apples might cheat is like closing a whole job site because one guy didn't wear a hard hat.
I'm looking at some of the questions in your notice, like number 15 about defining gaming versus legitimate markets. I strongly believe event contracts aren't gaming. They're about real-world outcomes and real economic value. And on question 7 about balancing innovation and consumer protection, I think keeping regulated markets like Kalshi open protects us way more than driving activity to sketchy offshore sites.
I hope you'll support fair, proportionate rules for prediction markets. Don't ban them or make it so hard that only big players can participate. Keep it open for regular workers like me who just want a fair shot at using these tools.
Sincerely,
Rowdy Summers
