Comment Text:
Dear Chairman and Commissioners,
My name is Jordan Ackerman, and I'm just an everyday citizen from Pennsylvania. I'm writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've used prediction markets like Kalshi a few times to make a little extra money on the side, and I really believe they have value for people like me and for society as a whole. I'm not an expert, but I want to explain why I support well-regulated prediction markets and hope youll consider my perspective.
First off, Ive noticed that the forecasts from prediction markets are often way more accurate than what I see from polls or pundits on TV. When Ive looked at election odds or other public events on Kalshi, the real-time data from people buying and selling gives me a clearer picture of whats likely to happen. Its pretty cool to see that unfold, and it helps me make better decisions, even outside of trading. I think this kind of information is useful for everyone, not just traders, and it could even help journalists or policymakers get a better read on things.
I also like that platforms like Kalshi let regular folks like me participate in a legal, regulated space. Im kinda new to trading, but I feel safer knowing theres oversight, compared to some sketchy offshore sites Ive heard about. If you ban or over-restrict these markets, I worry people will just go to those unregulated places, which seems way riskier. Plus, Ive used prediction markets to hedge small personal risks, like betting on economic events that could affect my budget. Its not gambling to me; its more like researching and making informed choices, just like with stocks.
I know there are concerns about manipulation or insider trading, and I get that. But isnt that stuff already illegal? From what I understand, the CFTC already has tools to catch bad actors in other markets, so why not use those here instead of shutting things down? I also think informed traders actually make the prices more accurate, which helps everyone. Banning whole categories of contracts or calling them gaming doesnt seem right when they serve real purposes like hedging or price discovery. Speaking to some of your questions, like in Topic B on public interest (Questions 7-14), I believe the US should lead in financial innovation, not let other countries take over. And on Topic C (Questions 15-22), I dont think these contracts are gaming; theyre economic tools.
I just hope Kalshi can stay the way it is, with fair rules that protect consumers but dont kill off access for regular people. Im all for proportionate regulation that targets specific risks, not broad bans. Please support a framework that keeps prediction markets accessible, safe, and innovative.
Thank you for considering my input.
Sincerely,
Jordan Ackerman
