Comment Text:
I believe that “Prediction Markets” should be regulated as what they are: gambling markets. At the end of the day, a prediction on how a sports game will result or which candidate will win an election is a gamble, a bet. This is not a legitimate investment or hedging market; however, it is a gaming market and should be regulated as such, with states having the final say on who can access them.
Furthermore, these platforms do not sufficiently check IDs or use verifiable information to ensure users are at least 18. My brother, who is only 16, actively gambles on these markets, which is a direct violation of the law. Having used these markets myself, every contract feels like a gambling opportunity rather than a traditional call or put contract seen on a stock market. I urge the Commission to find these contracts contrary to the public interest.
