Comment Text:
As a co-founder of Augur, the first decentralized prediction market platform launched on Ethereum in 2016, I'd like to make a few comments on the future of the future of the regulatory environment for prediction markets.
Approving prediction markets by default is recommended and is the only choice that doesn't violate the first amendment nor the liberty of everyday Americans.
If gambling on the financial markets and insurance is legal, why should Americans not have the liberty to freely put money on future events on a trusted platform?
Most importantly, it doesn't matter what the regulatory environment is in America for the prediction market platforms that are easily accessible via VPN and decentralized protocols. Making it harder for Americans to participate in markets on reputable platforms like Polymarket and Kalshi will force them to go to offshore/decentralized platforms.
This is also not even going after the importance of the accuracy of prediction markets when at a large scale, something that could guide future decision-making in both the private and public sector.
America should dominate this market, making it harder for that to happen is always a bad idea.
Tony Sakich
Co-Founder of Augur.
