Comment Text:
Dear Chairman and Commissioners,
My name is Matthew Bolding, and I'm just an everyday citizen from Oklahoma writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Ive been actively trading on platforms like Kalshi for a while now, and I want to express my strong support for well-regulated prediction markets. Theyve added a lot of value to my life, and I believe theyre important for our countrys future in financial innovation.
I started using Kalshi mostly to make watching sports more enjoyable. Here in Oklahoma, sports betting through traditional sportsbooks isnt even legal, so having access to a regulated platform like Kalshi feels like a real freedom. Its not just about fun, though. I put thought and research into my trades, whether Im predicting game outcomes or other events. To me, this isnt gambling any more than trading stocks is. Its about analyzing information and making informed decisions, and I believe these event contracts serve a real economic purpose, not just entertainment.
What worries me is the idea of banning or over-restricting these markets. Ive seen unregulated offshore platforms out there, and theyre nowhere near as safe or transparent as Kalshi, which operates under CFTC oversight. If you clamp down too hard, people like me wont stop trading; well just get pushed to those shadier venues with no protections. Id much rather see the CFTC keep markets like Kalshi open and regulated, where theres accountability. Plus, I think the US should be leading the way in financial innovation. Why let other countries take over this space when we can set the standard?
I know there are concerns about manipulation or insider trading, and I get that. But from what I understand, the CFTC already has strong tools to tackle those issues in other markets. Why not apply those same rules here instead of broad bans? Im particularly drawn to Questions 7 and 8 from your ANPR about balancing innovation with consumer protection. I think the answer lies in proportionate regulation that targets specific risks without shutting down the whole market. And on Question 15, about whether event contracts are gaming, Id argue theyre not. Theyre a legitimate way for people like me to engage with real-world events.
I truly believe the current oversight for platforms like Kalshi is enough to keep things fair and safe. Im asking you to support regulated prediction markets with targeted rules, not heavy-handed restrictions that could hurt regular folks like me or push innovation overseas. Thanks for taking the time to consider my perspective.
Sincerely,
Matthew Bolding
