Comment Text:
Dear Chairman and Commissioners,
My name is Jordan Abrams, and I'm a small business owner from Pennsylvania. I run a local retail business here, and Ive been actively trading on prediction markets like Kalshi and Polymarket for the past couple of years. Im writing to comment on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516) because I strongly support the idea of well-regulated prediction markets, and I want to share why they matter to someone like me.
As a business owner, I deal with a lot of uncertainty. Things like election outcomes, new regulations, or even shifts in economic policy can directly impact my costs, taxes, and ability to plan. Trading on prediction markets has been a game-changer for me. Its not just about making a bet; its about hedging real financial risks. For example, last year I used a market on Kalshi to hedge against a potential policy change that could have raised my operating costs. The information I got from the markets pricing helped me make smarter decisions for my business, and thats something I cant get from polls or news pundits. These markets arent gambling. They take research and judgment, just like any other investment I make.
I also believe that regular people like me should have the freedom to participate in legal, regulated markets. If the CFTC bans or over-restricts prediction markets, it wont stop them from existing. Itll just push the activity offshore to unregulated platforms where theres no oversight, no consumer protection, and no accountability. Id much rather trade on a CFTC-regulated platform like Kalshi, where I know there are rules and safeguards in place, than be forced to use some sketchy offshore site. A ban would hurt people like me who want to engage responsibly.
I appreciate that the CFTC is asking for input on how to balance innovation with protection, as raised in Questions 7 and 8 under the Public Interest section. I think the answer lies in proportionate, targeted regulation, not broad categorical bans. Focus on specific risks like manipulation or insider trading, which you already have tools to address, rather than shutting down entire markets. I also relate to Question 23 on procedural aspects, about when public interest determinations should happen. Id urge you to make these decisions early and transparently so businesses and individuals can plan without fear of sudden restrictions.
Im not blind to the concerns about manipulation or bad actors, but punishing everyone by banning these markets isnt the solution. Use the laws and powers you already have to go after those who break the rules. Please support a regulatory framework that allows prediction markets to operate legally and safely in the U.S. Lets keep this innovation here, under your oversight, where it benefits people like me.
Thank you for considering my perspective.
Sincerely,
Jordan Abrams
