Comment Text:
Dear Chairman and Commissioners,
My name is Krishna VG, and I'm a software engineer based in Texas. Im writing to provide my input on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. As someone who actively trades on regulated prediction markets like Kalshi, I strongly support the development of fair and proportionate regulations for these markets, rather than bans or overly restrictive rules.
I got into prediction markets because, frankly, I was frustrated with how often polls and pundits got things wrong, especially around elections and major public events. As a tech professional, I value data and accuracy, and Ive found that the forecasts on platforms like Kalshi often cut through the noise better than traditional sources. Its not just about making a few bucks; its about having access to real-time, crowd-sourced information that helps me make sense of the world. I think this kind of forecasting is valuable for everyone, not just traders like me.
What I appreciate most about trading on a regulated platform like Kalshi is the sense of security. I know there are rules in place, oversight by the CFTC, and protections against fraud or manipulation. Compare that to unregulated offshore platforms where theres no accountability. If the CFTC over-restricts or bans prediction markets, people like me wont just stop trading; well get pushed to those shady, offshore sites where theres no consumer protection at all. Id much rather see the CFTC focus on strengthening regulated markets here in the US to keep activity safe and transparent.
I also want to touch on a couple of specific questions from the ANPR. On Question 7, regarding balancing innovation and consumer protection, I believe regulated prediction markets strike that balance by fostering innovation in forecasting while providing oversight. And on Question 14, about comparisons to other financial tools, I see these markets as a unique way to democratize access to information, unlike insurance or other products. They let regular people like me participate in a way that feels fair and informed, not like gambling.
Im not blind to the risks. I know there are concerns about manipulation or insider trading, but those are already illegal, and the CFTC has the tools to enforce against bad actors. Shutting down or overly restricting these markets punishes the majority of us who trade honestly and benefit from the information.
I urge you to support proportionate regulation of prediction markets. Keep platforms like Kalshi operating under clear, fair rules, and dont push activity offshore where theres no oversight. Thank you for considering my perspective.
Sincerely,
Krishna VG
