Comment Text:
Dear Chairman and Commissioners,
My name is Kwqzeek Fisher, and I'm a journalist based in New Jersey. Im writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Ive been following this issue closely, both as part of my work in media and as someone who actively trades on platforms like Kalshi and Polymarket. I strongly support the development of well-regulated prediction markets in the United States, and I hope the CFTC will craft rules that allow these markets to thrive while addressing real risks.
As a journalist, I value information. Prediction markets give me insights I cant find anywhere else. They often predict outcomes, like elections or economic shifts, more accurately than polls or expert opinions. Thats not just helpful for me when Im researching a story; its a public good for anyone trying to make sense of an uncertain world. I also trade on these platforms myself, and Ive seen firsthand how theyre not about gambling. It takes real research and judgment to make informed trades, just like investing in stocks. Plus, allowing regular people like me to participate makes the markets predictions stronger and keeps valuable information from being locked up with big institutions.
What I care about most is the freedom to participate in legal, regulated markets. Ive used both Kalshi, which operates under CFTC oversight as a designated contract market, and offshore platforms like Polymarket. The difference is night and day. On Kalshi, I know there are rules, transparency, and accountability. Offshore platforms? Its a Wild West out there. No oversight, no recourse if something goes wrong. If the CFTC over-restricts or bans prediction markets, people wont just stop trading; theyll move to these unregulated spaces. Thats less safe for everyone. Id rather see the CFTC focus on strong, clear regulations that keep markets like Kalshi accessible and secure.
I also want to touch on a concern I know the CFTC has raised in Questions 7 and 8 about balancing innovation with consumer protection. I get that theres a risk of manipulation or insider trading, but those are already illegal under existing laws. The CFTC has the tools to enforce against bad actors without shutting down entire markets. Punishing everyone for the actions of a few doesnt make sense. Its like closing the stock market over a few insider trades.
I urge the CFTC to support proportionate regulation of prediction markets. Dont ban or over-restrict them. Keep platforms like Kalshi open to everyday traders like me, and focus on rules that target specific risks while preserving access to these valuable tools. Thank you for considering my input.
Sincerely,
Kwqzeek Fisher
