Comment Text:
Dear Chairman and Commissioners,
My name is Chad Eversmann, and I'm just a regular guy from Missouri who wants to weigh in on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not a lawyer or a finance expert, just someone who actively trades on platforms like Kalshi and Polymarket. I believe these markets are valuable, and Im asking you to regulate them in a fair way without shutting them down or over-restricting access.
I started trading on prediction markets a couple years back because I saw how often they get things right when polls and pundits dont. Whether its an election or an economic indicator, the prices on these platforms give me a clearer picture of whats likely to happen than anything on TV or social media. That information isnt just useful to me as a trader; its helpful to anyone paying attention. Beyond that, Ive used these markets to hedge real risks. For example, Ive placed trades on election outcomes that could impact my taxes or small side business. Its not gambling. Its a way to protect myself, just like farmers hedge crop prices.
What worries me is the idea of banning or heavily restricting these markets. I trade on regulated platforms like Kalshi because I trust theyre safer, with oversight and rules in place. If you clamp down too hard, people like me will get pushed to unregulated offshore sites where theres no protection at all. Thats not a solution; its a bigger problem. I also think the CFTC already has the tools to handle bad actors. Insider trading and market manipulation are illegal, and youve got the power to go after anyone breaking those laws. Apart from enforcing whats already on the books, let Americans do what they want with their own money.
I noticed some of your questions in the ANPR, like Question 7 on balancing innovation and consumer protection, and Question 29 on whether informed traders help price discovery. My take is that informed trading makes these markets better for everyone; it sharpens the prices and the info we all rely on. And for protection, focus on targeted rules for specific risks, not broad bans that punish law-abiding folks like me. Proportionate regulation, as you seem to ask about in Question 40, is the way to go.
Im just asking you to keep prediction markets accessible and regulated sensibly. Dont let heavy-handed rules or outright bans push this valuable tool out of reach for regular people. Thank you for considering my thoughts.
Sincerely,
Chad Eversmann
