Comment Text:
Dear Chairman and Commissioners,
My name is Wolf Moore, and I'm just a regular guy from Alabama writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm not a Wall Street trader or a policy expert, just someone whos found prediction markets to be a useful tool in my everyday life. I strongly support regulating these markets in a fair and balanced way, rather than banning or over-restricting them.
I started using prediction markets a while back to help manage risks that affect my family and me. For instance, Ive traded contracts tied to economic indicators like inflation numbers because they impact my budget for groceries and bills. Having a way to hedge against those uncertainties gives me a bit of peace of mind. But beyond my personal use, I think these markets are valuable for everyone. They pull together information in a way thats often more accurate than polls or news pundits. Ive seen how the prices on these platforms can signal whats really likely to happen, whether its an election result or a policy change. That kind of insight isnt just helpful for traders, its something the public, journalists, and even policymakers can use to make better decisions.
Im worried, though, about the idea of over-restricting or outright banning these markets. If the rules get too tight, people like me wont just stop participating, well get pushed to unregulated offshore platforms. Those sites dont have the oversight or protections that a CFTC-regulated market like Kalshi offers. Id much rather trade in a system where there are clear rules and someones watching out for manipulation or fraud. If you clamp down too hard, youre not protecting folks, youre driving us to riskier places. I think the CFTC already has tools to handle issues like insider trading or market manipulation, so why not focus on using those instead of broad restrictions?
Looking at some of the questions in the ANPR, Id like to address a couple from the Public Interest section, like Question 7 on balancing innovation and consumer protection. I believe you can protect consumers by regulating smartly, not by shutting things down. Also, Question 14 on price discovery hits home for me, since Ive seen firsthand how these markets give clearer signals than other sources.
I hope youll consider my perspective as an everyday citizen who values what prediction markets offer. Please support proportionate regulation that keeps these markets accessible and safe, without pushing activity offshore where theres no oversight. Thank you for taking the time to read this.
Sincerely,
Wolf Moore
