Comment Text:
Dear Chairman and Commissioners,
My name is William Bryant, and I'm just an everyday citizen from South Carolina writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been actively trading on platforms like Kalshi for a while now, and I feel strongly that these markets should be regulated in a fair way, not banned or choked with excessive rules.
I support prediction markets because they give people like me a chance to participate in something meaningful. Im not a Wall Street trader or a big institution, just a regular guy who does his homework on current events, economic trends, and political outcomes. Trading on these platforms isnt gambling to me. Its about using research and judgment, much like folks do with stocks or commodities. Classifying event contracts as gaming feels wrong when they serve real economic purposes, like helping me hedge against uncertainties that affect my daily life, such as inflation or policy changes. Id hate to see that freedom taken away.
I also believe the U.S. should be a leader in financial innovation. If we over-restrict or ban these markets, were just pushing activity to offshore platforms that arent regulated at all. Ive seen those sites out there, and theyre nowhere near as safe or transparent as a CFTC-regulated market like Kalshi. Why would we drive Americans to those risky places instead of keeping things here under proper oversight? It doesnt make sense to me.
On the topic of regulation, I think the CFTC should focus on targeted rules rather than broad bans. I understand there are concerns about manipulation or insider trading, as mentioned in some of your questions, like numbers 29 to 32 on inside information. But I believe informed trading actually helps price discovery and benefits everyone by making the markets predictions more accurate. The answer isnt to shut things down; its to enforce the laws we already have against bad actors. Banning entire categories of contracts punishes honest participants like me for the potential misdeeds of a few.
Im also looking at questions 7 to 14 on public interest. I think prediction markets balance innovation and consumer protection when theyre regulated properly. They give regular folks access to unique information and a way to manage risks. Lets not throw that away with heavy-handed rules.
Im asking you to support proportionate regulation of prediction markets. Keep them legal and accessible for everyday Americans like me, with oversight that targets real risks without killing the whole concept. Thanks for taking the time to read my thoughts.
Sincerely,
William Bryant
