Comment Text:
Dear Chairman and Commissioners,
My name is Alex Quinn, and I'm a student based in New York. I'm writing in response to the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I want to express my strong support for well-regulated prediction markets, particularly platforms like Kalshi, which I use regularly and trust deeply. As someone who actively trades on these markets, I believe they provide unique value and should be supported with fair, proportionate regulation rather than restrictive bans.
I've been trading on Kalshi for a while now, and I can honestly say it's been an incredible experience. The platform gives me access to information and insights I can't find anywhere else, whether it's about election outcomes or economic indicators. It's not just fun, it's educational. As a student, I find that participating in these markets sharpens my understanding of real-world events and forces me to research and think critically. I also appreciate that Kalshi is a regulated platform under the CFTC's oversight. That makes me feel much safer compared to unregulated offshore sites like Polymarket, where there's little accountability. If prediction markets are over-regulated or banned, people like me will be pushed to those less safe venues, and I don't think that's the outcome anyone wants.
I want to address a concern I know the CFTC has about things like insider trading or manipulation. I get why that's a worry, but the answer isn't to shut down legitimate markets. The CFTC already has rules and tools to tackle bad actors, and those should be enforced rather than punishing everyone by restricting access. Platforms like Kalshi have shown they can operate responsibly, with fair odds and transparent rules. They've helped a lot of people, including me, engage with important issues in a meaningful way. I'm confident they can continue to do so under reasonable oversight.
Specifically, in response to Questions 7 and 8 from your ANPR about balancing innovation with consumer protection, I believe regulated markets like Kalshi strike the right balance. They foster innovation by letting everyday people participate, while their compliance with CFTC rules protects users far better than offshore alternatives. On Question 29 regarding insider trading, I think the focus should be on enforcing existing laws rather than limiting market access for law-abiding participants like myself.
I urge the CFTC to support the continued growth of regulated prediction markets. Please don't impose overly restrictive rules or categorical bans that would push activity to unregulated spaces. Instead, craft policies that protect consumers while preserving our freedom to participate in these valuable, legal markets. Thank you for considering my perspective.
Sincerely,
Alex Quinn
