Comment Text:
Dear Chairman and Commissioners,
My name is Demilade Da, and I'm just an everyday citizen from Delaware. I'm writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I actively trade on platforms like Kalshi and Polymarket, and I strongly support the idea of well-regulated prediction markets. I believe they provide real value, and I hope the CFTC will craft rules that allow regular people like me to keep participating in a safe, legal way.
I've been trading on prediction markets for a while now, mostly because they give me insights I can't find anywhere else. Whether it's an election outcome or an economic indicator, the prices on these platforms often seem more accurate than what I hear from news pundits or polls. As someone who isn't a big investor or part of any financial institution, I value having access to this kind of information. It's not just for the wealthy or connected; it's for anyone willing to do a little research and think critically. To me, that's a form of fairness, letting ordinary folks like me have a stake in understanding the world.
I know there are concerns about things like insider trading or manipulation, and I get that those are real issues. But I don't think the answer is to ban or heavily restrict prediction markets. Those kinds of rules would likely push activity to offshore platforms that aren't regulated at all. I've seen friends casually mention using overseas sites if certain markets get shut down here, and that worries me. Unregulated spaces are riskier for everyone. The CFTC already has tools to go after bad actors, and I'd rather see those enforced than see broad bans that punish law-abiding users like me.
I'm particularly drawn to Questions 7 and 14 in the ANPR, about balancing innovation with consumer protection. I think the answer lies in proportionate regulation. Don't throw out entire categories of event contracts just because of a few potential risks. Instead, target the specific problems, like insider trading or manipulation, with clear rules and strong enforcement. That way, people like me can keep participating in legal, regulated markets without being forced into shadier corners of the internet.
Prediction markets aren't gambling to me. They take thought, analysis, and judgment, just like any other kind of investing. I hope the CFTC will see the value in keeping these markets accessible under smart, fair oversight. Please support proportionate regulation of prediction markets, and avoid over-restricting or banning them outright. I want to keep trading in a safe, legal environment right here in the U.S.
Thank you for considering my perspective.
Sincerely,
Demilade Da
