Comment Text:
Dear Chairman and Commissioners,
My name is David Roark, and I'm a trader and investor from Kansas. I'm writing in response to the Advance Notice of Proposed Rulemaking on Prediction Markets, published in the Federal Register as 91 FR 12516. I want to express my strong support for well-regulated prediction markets and urge the CFTC to avoid overreaching or imposing unnecessary restrictions on these innovative platforms.
I've been actively trading on prediction markets like Kalshi and Polymarket for a while now. These markets aren't just a hobby for me; they provide real value. They offer insights into events and outcomes that I can't get from news or polls, often with better accuracy. As a trader, I put in the time to research and analyze before making decisions, just like I do with stocks or commodities. This isn't gambling. It's a legitimate way to engage with the world and make informed choices. More than that, I believe these markets should be open to regular folks like me, not just big institutions. Democratizing access makes the information better for everyone.
What frustrates me is the constant push from government agencies to control or shut down things that work. The CFTC needs to stop overreaching and leave prediction markets alone. Hands off. I'm not saying there shouldn't be oversight, but the tools are already there. The CFTC has plenty of authority to tackle manipulation and insider trading in any market, including these. I've read about your existing powers to go after bad actors, and I think that's enough. Banning or overly restricting prediction markets to stop a few cheaters is like closing the stock market over insider trading. It punishes the wrong people, like me, who are just trying to participate in a legal, regulated space.
I also want to address some of your specific questions from the ANPR. Regarding Questions 29-32 on inside information, I think informed traders actually help make prices more accurate, and the CFTC can already handle any abuse with current laws. On Questions 1-6 about core principles, I believe the focus should be on using your existing anti-manipulation tools rather than creating new barriers for traders like me. And for Questions 7-14 on public interest, I strongly feel that innovation and personal freedom to participate outweigh the need for heavy-handed rules.
I'm asking you to support proportionate regulation that keeps prediction markets accessible and safe without stifling them. Don't let overreach kill a good thing. Let regular Americans like me keep trading in these markets under fair, clear rules.
Sincerely,
David Roark
