Comment Text:
Dear Chairman and Commissioners,
My name is Evan Glissendorf, and I'm a student from Wisconsin. I'm writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm new to prediction markets, but I strongly support their development under fair and reasonable regulation. As someone studying and thinking about how information shapes decisions, I see these markets as a powerful tool for better understanding the world, and I want to ensure everyday people like me can participate in them legally and safely.
I believe prediction markets provide unique value by aggregating information in ways that polls and pundits often can't match. That kind of price discovery isn't just helpful for traders; it benefits the public and even policymakers who need accurate signals about future events. I'm also concerned about U.S. competitiveness. If we over-restrict or ban these markets, we risk pushing innovation and activity to other countries. The U.S. should be leading in financial innovation, not falling behind. I think regulated platforms like Kalshi are a much safer option than unregulated offshore sites. If we clamp down too hard, people will just turn to those less secure alternatives, which helps no one.
Another point I want to stress is that event contracts aren't gambling. They serve real economic purposes, like helping people hedge against uncertainty or make informed decisions. Treating them as gaming feels like a misstep when theyre more akin to other financial tools. As a student, I value the freedom to participate in legal, regulated markets. I don't have the resources of big institutions, so having access to these platforms levels the playing field a bit. It lets me engage with real-world issues in a meaningful way.
Id like to address a couple of specific questions from the ANPR. On Question 7, regarding public interest, I think the CFTC should prioritize innovation by allowing prediction markets to grow under clear rules, rather than broad restrictions. And on Question 15, about defining gaming, I urge you to recognize that event contracts have legitimate uses beyond mere speculation. Theyre tools for insight and risk management, not just games of chance.
I understand there are concerns about manipulation or insider trading, but I believe the CFTC already has tools to tackle those issues without banning entire categories of contracts. Let's focus on proportionate regulation that addresses specific risks while preserving access for regular people like me. I respectfully ask that you support well-regulated prediction markets and avoid over-restrictive policies that could stifle their potential or drive activity offshore.
Thank you for considering my perspective.
Sincerely,
Evan Glissendorf
