Comment Text:
Dear Chairman and Commissioners,
My name is Braeden Trigg, and I'm an everyday citizen from Maryland writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm new to prediction markets, but I strongly support their existence and believe they should be regulated in a fair and balanced way, not banned or overly restricted.
I value the freedom to participate in legal, regulated markets like these. Prediction markets aren't just for big institutions or insiders; they give regular people like me a chance to engage with important events and make informed decisions. I think that's a good thing. The idea that anyone can research, analyze, and trade based on their understanding of the world feels fair and democratic. It's not gambling, it's a way to put your knowledge to work, much like investing in stocks or other financial products. For example, I could see myself using a prediction market to hedge against something like a policy change that might affect my taxes or cost of living. That kind of access to information and risk management shouldn't be limited to just the wealthy or well-connected.
One thing I'm particularly interested in is how informed trading in these markets improves price discovery, which benefits everyone, not just traders. When people who know a lot about a topic trade on that knowledge, the market prices become more accurate. That helps all of us, whether we're trading or just looking for reliable information about the future. I understand there are concerns about insider trading, as raised in Questions 29-32 of the ANPR, but I don't think the solution is to shut down prediction markets. Insider trading is already illegal, and the CFTC has tools to enforce those laws. Punishing everyone by banning or over-regulating these markets because of a few bad actors doesn't seem right. Instead, focus on enforcing existing rules and making sure the markets are transparent.
I also want to address the public interest aspect from Questions 7-14. Prediction markets can serve a real purpose by providing unique data that polls and pundits often miss. They're a tool for innovation and shouldn't be stifled by excessive restrictions. Regulating them properly, rather than pushing activity to unregulated offshore platforms, is the way to protect consumers like me while still allowing these markets to grow.
I urge the CFTC to support proportionate regulation of prediction markets. Please don't impose broad bans or rules that make it impossible for regular citizens to participate. Let's keep these markets accessible, transparent, and fair for everyone.
Sincerely,
Braeden Trigg
