Comment Text:
Dear Chairman and Commissioners,
My name is Cooper Dove, and I'm an everyday citizen from Maryland writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been actively trading on platforms like Kalshi for a while now, and I strongly support the idea of well-regulated prediction markets. I believe they offer unique value to people like me, and I hope the CFTC will craft rules that allow these markets to thrive without over-restricting them.
I trade on prediction markets because they give me a way to engage with real-world events in a meaningful way. Whether it's an election outcome that could affect my taxes or a Federal Reserve decision that might impact my mortgage rates, these markets let me hedge risks that matter to my life. This isn't gambling to me. It takes research and judgment, just like investing in stocks. Classifying event contracts as "gaming" feels wrong when they serve clear economic purposes like price discovery and risk management. I urge you to consider this in your responses to Questions 15-22 on listed activities.
I'm also worried about what happens if these markets get banned or overly restricted. I've seen how easy it is to access offshore platforms that aren't regulated at all. Pushing activity away from safe, CFTC-overseen markets like Kalshi just puts regular folks like me at greater risk. We need the US to lead in financial innovation, not cede ground to other countries. This ties directly to Questions 7-14 on public interest, where I believe innovation and consumer protection can be balanced with smart rules.
On the topic of manipulation and insider trading, I understand the concerns. But the CFTC already has strong tools to tackle these issues in other derivatives markets. I don't see why they can't be adapted here. Banning entire markets to stop a few bad actors punishes everyone else. Plus, informed trading often makes prices more accurate, which helps all participants, not just traders. This connects to Questions 29-32 on inside information, where I think the focus should be on enforcing existing laws rather than broad prohibitions.
I want to keep participating in legal, regulated prediction markets. They've given me a stake in understanding the world around me, and I believe they make our economy stronger by aggregating information in ways polls and pundits can't match. Please support proportionate regulation that addresses specific risks without shutting down these valuable tools.
Thank you for considering my perspective.
Sincerely,
Cooper Dove
