Comment Text:
Dear Chairman and Commissioners,
My name is Shonda Smith, and I'm a healthcare professional from Georgia. I've been actively trading on prediction markets like Kalshi for a while now, and I'm writing in response to the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. While I have serious concerns about certain practices by platforms like Kalshi, I strongly support the existence of well-regulated prediction markets and want to share my perspective on why they matter to me and to society.
As someone in healthcare, I face a lot of financial uncertainty tied to policy changes, like shifts in insurance regulations or funding for programs that impact my work. Prediction markets have been a tool for me to hedge some of that risk. For instance, I've used these markets to offset potential losses tied to election outcomes that could change healthcare funding in Georgia. Beyond my personal use, I've seen how these markets produce forecasts that are often more accurate than polls or pundits. That kind of information isn't just helpful to traders like me; it benefits everyone who needs to make informed decisions, from small business owners to policymakers.
I understand there are risks, and Ive experienced some firsthand. I believe Kalshi has engaged in deceptive practices by presenting charts and graphs that seem to guide decisions, only to later claim users are wrong for relying on that data. This has happened to me and many others, and I urge the CFTC to investigate such behavior and hold platforms accountable.
You should absolutely look into them and increase regulation. Even this form was prewritten by them to appear as if I support them.
Sincerely,
Shonda Smith
