Comment Text:
Dear Chairman and Commissioners,
My name is Melanie Trujillo, and I'm writing to you as an everyday citizen from New Mexico regarding the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I actively trade on platforms like Kalshi, and I strongly support the idea of well-regulated prediction markets in the United States. I appreciate the chance to share my thoughts on how the CFTC can approach this growing area.
I've found prediction markets to be a valuable tool for understanding the world around me. Trading on Kalshi lets me engage with events that affect my life, like economic policies or election outcomes, in a way that feels more grounded than just reading the news. But what really matters to me is that these markets are regulated here in the US. I feel much safer trading on a platform like Kalshi, which operates under CFTC oversight, than I would on some offshore site with no rules or protections. If the CFTC bans or over-restricts these markets, I worry that people like me will be pushed to unregulated platforms where there's no accountability. That's not a solution; it's a bigger problem.
I'm also aware of concerns about things like manipulation or insider trading. I get why that's a worry, and I think it's important to address. But the CFTC already has strong tools to tackle these issues in other markets, and I believe those can be adapted for prediction markets without resorting to broad bans. Shutting down entire categories of contracts or making it too hard for platforms to operate just punishes regular users like me. Targeted rules to stop bad actors make more sense than sweeping restrictions.
On that note, I want to touch on some of the specific questions in the ANPR. Regarding Questions 7 and 8 under Public Interest, I believe prediction markets serve a real purpose by helping people like me make informed decisions, and the CFTC should balance innovation with consumer protection by keeping these markets accessible under clear rules. As for Question 29 under Inside Information, I think the focus should be on enforcing existing laws against insider trading rather than assuming the whole system is flawed.
The US has a chance to lead in financial innovation here. If we over-regulate or ban prediction markets, other countries will step in, and we'll lose out on shaping this space. I urge the CFTC to adopt proportionate regulation that addresses specific risks without stifling the benefits these markets offer to everyday people.
Thank you for considering my perspective. I hope you'll support a framework that keeps prediction markets regulated, accessible, and safe for users like me.
Sincerely,
Melanie Trujillo
