Comment Text:
Dear Chairman and Commissioners,
My name is Lexi Jones, and I'm just a regular person from Florida who wants to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I've been trading on platforms like Kalshi for a while now, mostly for fun, but also because I think these markets provide something valuable. I'm writing to ask you to support fair, proportionate regulation of prediction markets instead of banning or over-restricting them. It feels like everything I enjoy or find useful gets taken away or turned into something different. Why now, when these markets are actually helping people like me?
I started using Kalshi because I liked the idea of putting a little money on questions about the world, like election outcomes or economic trends. It's not just a game to me. I have to read up, think hard, and make judgments based on real information, just like I would with any investment. These markets give me access to insights I can't find anywhere else, stuff that's often more accurate than what I see on the news or in polls. That kind of information isn't just good for me, it's good for everyone who wants to make better decisions, whether they're regular folks or even policymakers.
What worries me is the idea of over-restricting or shutting down these markets. If that happens, people like me won't just stop trading. We'll get pushed to unregulated offshore platforms that don't have any oversight. I'd much rather trade on a regulated market like Kalshi, where there are consumer protections in place, than take my chances somewhere sketchy. The CFTC has a chance to keep things safe and fair by setting smart rules, not by banning entire categories of contracts. I also think the US should be leading the way in financial innovation. If we crack down too hard, other countries will step in and take over this space, and we'll lose out.
I'm looking at some of the questions you asked in the ANPR, like Question 7 on balancing innovation with consumer protection, and Question 14 on public benefits. My take is simple: regulated prediction markets are a win for innovation and for getting better information out there. They also protect consumers by keeping activity under your oversight instead of letting it go offshore. On Question 33 about classification and costs, I hope you'll consider rules that don't burden small players or everyday users like me with heavy costs.
I just want the freedom to participate in legal, regulated markets that are useful and interesting to me. Please don't let over-regulation push this activity out of reach or out of the country. I'm asking you to craft rules that support prediction markets while addressing real risks with targeted solutions. Thank you for considering my perspective.
Sincerely,
Lexi Jones
