Comment Text:
Dear Chairman and Commissioners,
My name is Ronny Bolanos, and I'm just an everyday citizen from Florida 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 feel strongly that these markets should be supported with fair regulation, not heavy-handed restrictions or bans.
I value my freedom to participate in legal, regulated markets like Kalshi. These platforms give people like me a chance to engage with real-world events in a way thats not just interesting but also useful. Ive used prediction markets to make informed bets on things like election outcomes or economic indicators, and its helped me think more deeply about whats happening around me. Its not gambling, in my view. It takes research and judgment, much like investing in stocks. Classifying event contracts as gaming feels wrong to me because they serve a real economic purpose, whether its hedging against uncertainty or just getting a clearer picture of what might happen. Id urge the CFTC to consider this point when looking at questions 15 through 22 about defining gaming versus legitimate markets.
Another big reason I support regulated prediction markets is safety. Platforms like Kalshi, which operate under CFTC oversight, are far safer than the unregulated offshore sites out there. If you clamp down too hard or ban these markets, people arent going to stop trading. Theyll just move to sketchy platforms with no protections, no transparency, and no accountability. Ive seen friends dabble in those kinds of sites, and its a mess. Regulated markets keep things above board and protect users like me. This ties into questions 7 through 14 on balancing innovation and consumer protection. I believe the CFTC can strike that balance by supporting platforms that follow the rules, not by pushing activity into the shadows.
Im not blind to concerns about manipulation or insider trading, but I dont think the answer is to shut down prediction markets. The CFTC already has tools to tackle bad actors, and those should be used instead of punishing everyone. Banning these markets would take away a valuable tool for regular folks like me while the real problems just move elsewhere.
I hope the CFTC will focus on proportionate regulation that lets prediction markets thrive under clear, fair rules. Dont over-restrict or ban them. Let people like me keep participating in a safe, legal way. Thanks for taking the time to read my thoughts.
Sincerely,
Ronny Bolanos
