Comment Text:
Dear Chairman and Commissioners,
My name is Bev Dang, and I'm just an everyday citizen from Ohio writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been trading on platforms like Kalshi and Polymarket for a while now, and I strongly support well-regulated prediction markets. I hope my perspective as a regular person using these tools can help shape your approach.
I got into prediction markets because I wanted better information about things like elections and other public events that affect my life. Honestly, I've found the forecasts on these platforms to be way more accurate than what I hear from polls or pundits on TV. It's not just a hunch. There's solid academic research backing this up, showing how these markets pull together all kinds of scattered knowledge into prices that reflect what's really likely to happen. That kind of transparency and data isn't just useful for traders like me; it helps everyone, from journalists to regular folks trying to make sense of the world. I think that's a public good worth protecting.
I'm also worried about what happens if we over-restrict or ban these markets. Right now, I use platforms like Kalshi, which operates under CFTC oversight. That makes me feel safer knowing there's some accountability. But if rules get too tight, people like me will just turn to offshore platforms with no oversight at all. I've seen those sites. They're riskier, less transparent, and harder to trust. Pushing activity offshore doesn't solve problems; it makes them worse. I'd rather see the US take the lead on financial innovation like this, setting a standard for the world instead of letting other countries take over.
One concern I know comes up is insider trading or manipulation. I get why that's a worry, but I think informed trading actually makes prices more accurate, which benefits everyone in the market. Plus, the CFTC already has tools to tackle bad actors. Use those instead of shutting down something valuable. I'm particularly drawn to your questions 7 and 29 in the ANPR, about balancing innovation with consumer protection and whether informed traders help price discovery. My view is clear: innovation and accurate information are worth fostering, and targeted enforcement can handle the risks without broad bans.
I urge you to support proportionate regulation of prediction markets. Don't over-restrict or ban them. Keep platforms like Kalshi accessible to regular people like me, under fair rules that encourage transparency and innovation. Thanks for taking the time to read my thoughts.
Sincerely,
Bev Dang
