Comment Text:
Dear Chairman and Commissioners,
My name is Ethaniel Fitzgerald, and I'm a small farmer and former TV reporter from Alabama. I've always believed in standing up for freedom, and that's why I'm writing to you about the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I actively trade on regulated platforms like Kalshi, and I strongly support well-regulated prediction markets as an American freedom, a tool for better information, and a boost to U.S. competitiveness.
As a farmer, I know the value of good information. Prediction markets give me insights I can't get from news or polls, whether it's about crop policies, weather events, or economic shifts that affect my livelihood. These markets aren't just for traders like me; they help everyone by providing accurate price discovery for public decision-making. I've seen firsthand how the data from platforms like Kalshi can cut through noise and speculation. That's a public good, plain and simple.
I also see this as a matter of freedom of choice. I'm not some big institution; I'm just a regular guy who does his homework before trading. These markets let everyday folks like me participate in something meaningful, using research and judgment just like with stocks or commodities. Calling event contracts "gaming" is wrong. They're not gambling; they serve real economic purposes, like hedging risks that affect my farm or my family. Punishing rule-followers like me because a few might make bad choices isn't fair. Freedom means letting responsible people make their own decisions.
I'm also worried about what happens if we over-restrict or ban these markets. If the CFTC clamps down too hard, you're just pushing activity to those unregulated spaces. That hurts people like me and damages U.S. leadership in financial innovation. We should be leading the world in this space, not ceding ground to other countries. I urge you to consider proportionate regulation instead of broad categorical bans, as discussed in questions 7 through 14 on public interest and 15 through 22 on defining legitimate markets.
I get that there are risks like manipulation or insider trading, but the CFTC already has tools to tackle those, as noted in questions 1 through 6 on core principles. Let's target the bad actors, not shut down a whole system that works for so many of us. I'm asking you to support fair, well-regulated prediction markets that keep everyday Americans like me in the game, protect us with strong oversight, and keep the U.S. at the forefront of innovation.
Thank you for considering my perspective.
Sincerely,
Ethaniel Fitzgerald
