Comment Text:
Dear Chairman and Commissioners,
My name is Christopher Calaycay, and I'm an everyday citizen from California writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I work hard for my income, and I invest a good chunk of it for my retirement. With whats left, I like to have a little fun with discretionary spending, whether thats buying a lottery ticket or trying out something new like prediction markets. Im new to these markets, but I strongly support their existence and believe the government shouldnt be overstepping into personal choices like this.
To me, prediction markets arent gambling. Theyre a form of entertainment, sure, but they also serve real purposes. I have to read up on events, think about whats likely to happen, and make informed guesses. Thats not just a game; its a skill, much like picking stocks. If I win some money, Im thrilled. If I lose, Ive already decided its just part of the experience. I dont see how Im being harmed here, and I dont think the government needs to protect me from my own decisions. Honestly, overregulation in the United States often feels like its holding us back. It blocks regular people like me from accessing entertaining markets that could also help us grow our wealth. My money, my choice.
I also believe the US should be a leader in financial innovation. We shouldnt be ceding ground to other countries by clamping down on prediction markets with heavy-handed rules. If we overregulate, these platforms will just move offshore to less safe, unregulated spaces. Id much rather see them operate here under sensible oversight where the CFTC can keep an eye on things. Thats why Im glad to see you asking for input on specific issues like whether event contracts serve economic purposes, as in Question 15 of your notice. I think they absolutely do, and they shouldnt be lumped in with gambling.
Im also looking at Question 7 about balancing innovation and consumer protection. My view is simple: dont overprotect us to the point where we lose out. Regulation should be fair and targeted, not a blanket restriction that punishes everyone for the actions of a few bad actors. Lets keep prediction markets accessible to regular folks like me while using the tools you already have to stop manipulation or insider trading.
I urge you to support proportionate regulation of prediction markets. Dont ban or overly restrict them. Let Americans participate in this innovative space, and keep the US at the forefront of financial markets.
Sincerely,
Christopher Calaycay
