Comment Text:
Dear Chairman and Commissioners,
My name is Vee Vee, and I'm a journalist based in New York with a focus on the entertainment industry. I've been covering the growth of innovative markets and platforms for a while now, and I’m writing to express my strong support for well-regulated prediction markets in response to your Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I've used prediction markets a few times myself, and I see immense value in them, not just for traders but for society as a whole.
As someone who reports on emerging trends, I’ve seen how prediction markets offer unique insights that you can’t get from polls or punditry. They aggregate real information through the actions of informed participants, and that price discovery benefits everyone, from journalists like me looking for accurate signals to businesses and policymakers trying to anticipate outcomes. I’ve used these platforms to better understand economic developments that impact the brands and businesses I cover. They’ve also helped me think more critically about managing my own finances by engaging with real-world events in a new way.
I believe strongly in the freedom to participate in legal, regulated markets. Prediction markets aren’t gambling; they require research and judgment, much like any other investment. Shutting down or over-restricting access would limit opportunities for regular people like me to engage with these tools and learn from them. On a broader scale, I worry about the US falling behind in financial innovation. If we don’t lead on this front, other countries will, and we’ll lose the chance to shape how these markets evolve. Regulated platforms like those under CFTC oversight are far safer than unregulated offshore alternatives, and I’d hate to see activity pushed into less transparent spaces.
Addressing some of your specific questions, like those in Topic Area B on public interest, I think the CFTC should prioritize innovation alongside consumer protection. Informed trading, as raised in Topic Area E, isn’t a flaw; it’s a strength that improves price accuracy for everyone. And on manipulation concerns from Topic Area A, I trust that the CFTC already has strong tools to tackle insider trading and market abuse. You’ve used them effectively in other derivatives markets, and I believe those same mechanisms can work here without resorting to broad bans or heavy-handed rules.
Prediction markets are a powerful tool for democratizing information and fostering innovation. I urge you to support proportionate regulation that allows these markets to thrive while addressing specific risks with targeted solutions. Don’t let a few potential bad actors justify restricting access for the rest of us.
Thank you for considering my input.
Sincerely,
Vee Vee
