Comment Text:
Dear Chairman and Commissioners,
My name is Gustav Meeker, and I'm just a regular guy from California who wants 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 for a while now, and I believe these markets are valuable and worth regulating properly, not banning or over-restricting.
I support prediction markets because they give me, and people like me, a chance to participate in something that's both interesting and useful. I've seen firsthand how these markets often predict outcomes better than polls or TV pundits. Whether it's an election or an economic indicator, the prices on Kalshi reflect real insights you can't find anywhere else. That benefits everyone, not just traders. Plus, I don't see this as gambling. When I trade, I'm researching and making informed decisions about real-world events, just like I would with stocks or other investments. Classifying event contracts as "gaming" feels wrong to me; they're serving a real economic purpose by helping people understand and prepare for what's coming.
I'm also worried about what happens if these markets get banned or overly restricted. Right now, I can trade on a regulated platform like Kalshi, where there are rules and oversight. If the CFTC clamps down too hard, people like me might turn to unregulated offshore platforms instead. Those places have no protections, no accountability. I'd much rather stick with a safe, U.S.-based market under your supervision. I think this ties directly to some of the questions in your notice, like Question 7 on balancing innovation and consumer protection, and Question 15 on defining gaming versus legitimate markets. My view is clear: keep these markets legal and regulated here, and don't push activity into shadier corners of the internet.
I get that there are concerns about manipulation or insider trading. Those are real issues. But the CFTC already has tools to handle that, and I trust you can adapt them for prediction markets without shutting everything down. Banning these contracts to stop a few bad actors feels like overkill, especially when it punishes regular folks like me who just want to engage in a legal, transparent system.
I urge you to support proportionate regulation of prediction markets. Let everyday citizens participate in these innovative tools under clear, fair rules. Don't ban or over-restrict them, and risk driving activity offshore. Thanks for considering my perspective.
Sincerely,
Gustav Meeker
