Comment Text:
Dear Chairman and Commissioners,
My name is Tyler Wilkins, and I'm just an everyday citizen from Georgia writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm not an expert or a big-time trader, but I believe my voice matters on this issue. I've recently learned about prediction markets, and while I'm new to them, I strongly support their existence under fair and reasonable regulation.
I believe in the freedom to participate in legal, regulated markets like these. Prediction markets aren't just for Wall Street or big institutions; they give regular folks like me a chance to engage with information and events that impact our lives. Whether it's an election outcome that could change my taxes or a policy decision that affects my community, these markets offer a unique way to understand and even hedge against uncertainty. I don't see this as gambling. It takes research and thought, much like any other kind of investing. Shutting regular people out of these markets would only concentrate the benefits with the already powerful.
One thing that really stands out to me is the need for the United States to lead in financial innovation. If we over-restrict or ban prediction markets, we're just handing the future to other countries who are willing to embrace new ideas. I've read about how platforms in other parts of the world are growing fast because they don't face the same barriers. Why should we let them take the lead? The U.S. has always been a place where new ideas can thrive, and I think regulated prediction markets can be part of that story. We can set the standard for how to do this right, with proper oversight to prevent abuse.
I also want to address a concern I know the CFTC has raised, like in Questions 7 and 8 about balancing innovation with consumer protection. I get that there are risks, like manipulation or insider trading. But those are already illegal, and the CFTC has the tools to enforce the rules. Banning or over-restricting these markets punishes everyone for the actions of a few bad actors. Instead, focus on strong oversight and clear guidelines to keep things fair.
I'm asking you to support proportionate regulation of prediction markets. Don't shut them down or make it so only the biggest players can participate. Keep the door open for people like me to engage with these tools in a safe, regulated way. Let's make sure the U.S. stays ahead in innovation while protecting consumers. Thank you for considering my perspective.
Sincerely,
Tyler Wilkins
