Comment Text:
I am writing to voice my support for further regulation of “prediction markets.” I use Kalshi to gamble on sports and political news. Event contracts and prediction markets are obviously gambling. I use them as such, and they should be regulated as such.
Additionally, the insider trading opportunities prediction markets provide are abhorrent. Insiders making money on US military action, the Oscar’s, and WNBA dildo throws are gross, especially when the financial incentive leads people to change the outcome, like in the WNBA example. Another example of this stuff is when that CEO (Coinbase, maybe?) finished a shareholder meeting by listing off buzzwords so the prediction markets would go a certain way.
IMPORTANT: Kalshi has sent emails to all its users inviting them to comment on this legislation. The invitation brings users to a portal where they are presented with a list of talking points, from which they may select. Then, Kalshi uses AI to generate a long, verbose comment using those talking points to argue against further regulation. These comments are pretty easy to identify. To the extend that lawmakers can, they should ignore such comments. Mass AI generated comments are not in the spirit of the inquiry period.
Thank you for considering my input.
Concerned citizen,
Aidan Hennessey
