Comment Text:
Dear Chairman and Commissioners,
My name is AJ Enwereji, and I'm an everyday citizen from the United States writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not a trader or a financial expert, just someone who follows prediction markets closely because I find them incredibly useful for understanding the world around me. I want to express my support for well-regulated prediction markets and urge the CFTC to craft rules that allow regular people like me to participate in these legal, safe platforms.
I rely on prediction markets to get a clearer picture of major events, like elections or policy changes, that affect my life. The forecasts I see on these platforms are often sharper than what I hear from pundits or read in polls. That kind of information shouldnt be locked away for just a few big players. Its valuable to everyone, and I believe allowing ordinary citizens to engage with these markets, whether by trading or just following along, makes the data even better. Its about fairness and access.
I also want to stress that I dont see this as gambling at all. Prediction markets arent about luck or chance. Theyre built on research, analysis, and real-world judgment, much like any other kind of investing. Labeling them as "gaming" feels off to me, because they serve a real purpose in helping people understand and prepare for uncertainty. For example, knowing the odds of a policy shift or election outcome helps me think through how it might impact my budget or community.
One thing that really matters to me is keeping these markets regulated and safe. Ive seen platforms like Kalshi, which operate under CFTC oversight, and I feel much more confident in a system like that compared to unregulated offshore sites. If the CFTC clamps down too hard or bans broad categories of event contracts, I worry itll push activity to those shadier venues where theres no accountability. Thats not protecting anyone. Its just hiding the problem.
I noticed a few questions in the ANPR that tie into my concerns. For instance, Question 7 asks about balancing innovation with consumer protection. I think the answer is clear: support regulated markets to keep things transparent and safe while letting innovation grow. Question 15, on defining gaming versus legitimate markets, is also key. These contracts arent games; theyre tools for insight and planning.
Im asking the CFTC to regulate prediction markets in a fair, proportionate way. Dont over-restrict or ban them outright. Focus on enforcing the rules you already have against manipulation and insider trading, and let regular people like me have a chance to engage with these powerful tools. Thank you for considering my perspective.
Sincerely,
AJ Enwereji
