Comment Text:
Dear Chairman and Commissioners,
My name is Adrian Garcia, and I'm just an everyday citizen from Florida who enjoys trading in the markets. I've been doing this for a while now, and I want to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I actively trade on platforms like Kalshi, and I strongly support well-regulated prediction markets that allow people like me to participate in a safe, legal environment.
Ive traded on CFTC-regulated platforms before, like Nadex, and I never had any issues there. Kalshi feels like the closest thing to Nadex for trading simple predictions, and knowing its also under CFTC oversight makes me feel secure. Thats a big reason why Im writing today. Regulated markets like Kalshi are far safer than unregulated offshore platforms. If you make it too hard for platforms to operate under CFTC rules, or if you over-restrict who can trade, people will just go to less safe, unregulated sites. I dont want that, and I dont think the CFTC does either. Keeping these markets regulated here in the US protects folks like me.
I also believe the US should be a leader in financial innovation. We shouldnt let other countries take the lead on something like prediction markets, which can provide valuable information. Ive seen firsthand how trading on these platforms isnt just about making a bet. Its about research and understanding real-world events. When informed traders participate, the prices on these markets get more accurate, and that benefits everyone, not just us traders. Its like a crowd-sourced way to figure out whats likely to happen, whether its an election or an economic report. Thats useful data for the public, businesses, and even policymakers.
I want to touch on a couple of the questions from your notice, specifically around public interest and insider trading, like in Questions 7 and 29. I think prediction markets serve the public interest by giving regular people like me a chance to participate and by creating better forecasts. As for insider trading concerns, I get that its a risk, but its already illegal, and the CFTC has tools to catch bad actors. Shutting down or over-restricting these markets punishes honest traders like me instead of targeting the problem.
Im asking you to support proportionate regulation of prediction markets. Dont ban them or make it so hard to trade that only big institutions can play. Keep platforms like Kalshi accessible to everyday citizens under fair, clear rules. That way, we can all benefit from the information these markets provide while staying safe under CFTC oversight.
Thank you for considering my perspective.
Sincerely,
Adrian Garcia
