Comment Text:
Dear Chairman and Commissioners,
My name is Briana Martinez, and I'm a healthcare professional from New Jersey. I'm writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I strongly support the idea of well-regulated prediction markets and believe the CFTC should focus on fair oversight rather than heavy restrictions or bans.
I've used prediction markets a few times myself, and I can say theyre a unique tool. As someone who runs a small healthcare practice, I face financial uncertainties tied to policy changes, like shifts in insurance regulations or healthcare funding. Being able to hedge against those risks through a prediction market gives me a bit of peace of mind. Its not gambling, its a practical way to protect my business and plan ahead. Ive also noticed how these markets often provide insights you cant find in news or polls. That kind of information helps not just me, but anyone trying to make sense of complex events.
What worries me is the idea of banning or over-restricting these markets. If the CFTC clamps down too hard, people like me wont stop looking for ways to hedge risks or access this information. Well just turn to offshore platforms that arent regulated at all. Id much rather participate in a legal, U.S.-based market where there are rules and protections in place. Pushing activity overseas doesnt solve problems, it creates new ones, like less transparency and no recourse if something goes wrong. I think the CFTC can strike a balance by regulating these markets without shutting them out.
I also want to touch on a couple of specific questions from the ANPR. On Question 7, about balancing innovation and consumer protection, I believe allowing everyday people like me to participate in prediction markets is a form of innovation. Its not just for big institutions, it democratizes access to financial tools. And on Question 29, regarding inside information, I agree its a concern, but the laws against insider trading already exist. The CFTC should enforce those rules rather than limit everyones freedom to trade.
Im not saying there are no risks. I know manipulation or bad actors could be an issue. But the answer isnt to ban entire categories of contracts or make it impossible for regular folks to participate. Youve already got tools to go after fraud and abuse, so use them. Dont punish the rest of us who are using these markets responsibly.
I urge the CFTC to support proportionate regulation of prediction markets. Keep them legal and accessible under fair rules, and dont let heavy-handed restrictions drive activity offshore. Thank you for considering my perspective.
Sincerely,
Briana Martinez
