Comment Text:
Dear Chairman and Commissioners,
My name is Gabriel Thakor, and I'm an entrepreneur and creative director based in California. Im 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). As someone who actively trades on platforms like Kalshi, Ive seen firsthand the value these markets provide, and I urge you not to over-restrict or ban them.
I rely on prediction markets for unique insights that I cant get from news or polls. Whether its an election outcome affecting my business planning or an economic indicator tied to client projects, the prices on these platforms often cut through the noise better than any expert opinion. This isnt just helpful for me; its valuable for society when regular people like me can contribute to and access this kind of information. Plus, trading on these markets isnt gambling. It takes research and real-world judgment, much like investing in stocks. Labeling it as gaming feels like a misunderstanding of what were actually doing.
What concerns me most is the idea of pushing this activity into the shadows. Regulated platforms like Kalshi, under CFTC oversight, are transparent and safe. Ive used offshore sites in the past, and theyre a mess, with no accountability if something goes wrong. If you clamp down too hard on legitimate markets here, people will just go to those unregulated spaces. Thats not protecting anyone; its making things riskier. And honestly, why would we let other countries take the lead on this kind of financial innovation? The U.S. should be setting the standard, not playing catch-up.
I also want to address some of the questions in your ANPR, specifically around public interest and listed activities (Questions 7-14 and 15-22). I believe prediction markets serve a real economic purpose, like price discovery and hedging, and they shouldnt be treated as mere games. Theyve helped me make smarter decisions for my business by giving me a financial stake in understanding the world around me. And to be blunt, why take away something that isnt harming anyone? These are predictions about events in our lives. How much control does the government need over that?
I get that there are worries about manipulation or insider trading, but those are already illegal, and the CFTC has tools to handle bad actors. Dont punish the rest of us by shutting down a useful market. I strongly urge you to support well-regulated prediction markets that allow everyday people to participate safely and keep the U.S. at the forefront of innovation.
Thank you for considering my input.
Sincerely,
Gabriel Thakor
