Comment Text:
Dear Chairman and Commissioners,
My name is Jimmy Jackson, and I'm a student from Minnesota. I'm writing to express my strong support for the proportionate regulation of prediction markets as outlined in the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I've been actively trading on platforms like Kalshi for a while now, and I've seen firsthand how these markets provide valuable information that you just can't get anywhere else. I believe they have a real role to play in improving public decision-making, and I want to share why I think the CFTC should support their growth under a fair regulatory framework.
As a student, I'm constantly trying to understand the world around me, whether it's politics, economics, or social trends. Prediction markets have been a game-changer for me. The prices on these platforms often cut through the noise of polls and pundits, giving a clearer picture of what might happen. I remember last year trading on an election outcome contract, and the market's odds were way more accurate than anything I saw on the news. That kind of aggregated insight isn't just useful for traders like me; it's valuable for anyone trying to make informed choices, from journalists to policymakers. I think this ties directly to your questions 7 and 8 in the Public Interest section about price discovery and balancing innovation with consumer protection. Prediction markets are innovative, and they democratize access to information. Shutting them down or over-restricting them would keep that benefit locked away from regular people like me.
I also care deeply about the freedom to participate in legal, regulated markets. I've put time into researching events before I trade, just like I would for any investment. It's not gambling; it's about judgment and understanding real-world events. I'm worried that overly harsh rules could push these markets offshore to unregulated platforms, which would be worse for everyone. On the flip side, I get the concern about manipulation or insider trading, as raised in your questions 29 to 32 under Inside Information. But I believe the CFTC already has strong tools to tackle those issues. Informed trading actually helps make prices more accurate, benefiting all participants. If someone is cheating or manipulating, go after them with the existing laws. Banning or overly limiting these markets to stop a few bad actors feels like punishing the rest of us who are playing by the rules.
I urge the CFTC to craft regulations that protect consumers while allowing prediction markets to thrive. Don't ban or over-restrict them. Focus on targeted rules to address specific risks, and keep these platforms accessible to everyday people. Thank you for considering my perspective.
Sincerely,
Jimmy Jackson
