Comment Text:
Dear Chairman and Commissioners,
My name is Devanta Miller, and I'm 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. Im not a financial expert or a lawyer, just someone who has found real value in using platforms like Kalshi to engage with event contracts. I strongly support the idea of well-regulated prediction markets, and I hope my perspective as a regular user can help shape your approach.
I started trading on Kalshi because it offers a transparent, regulated space where information drives the price. Ive spent hours researching topics like election outcomes and economic indicators, and Ive seen how my informed trades, along with others, make the markets predictions sharper. This isnt gambling to me. Its about putting in the work to understand the world and making decisions based on that. I believe this process of informed trading improves price discovery for everyone, not just those of us participating. The data these markets produce is often more accurate than polls or pundits, and thats a public good.
What worries me is the idea of banning or over-restricting these markets. If that happens, people like me wont just stop trading. Well get pushed to unregulated offshore platforms where theres no oversight, no safety, and no fair pricing. Id much rather stay on a platform like Kalshi, which operates under CFTC rules and keeps things above board. Regulated markets are safer for everyone involved, and I think the U.S. should be leading the way in this kind of financial innovation. If we clamp down too hard, other countries will take the lead, and well lose out on the benefits.
I also want to address some of the concerns Ive read about, like insider trading or manipulation. I get why thats a worry, but those issues are already illegal, right? The CFTC has tools to go after bad actors without shutting down entire markets. Punishing everyone for the actions of a few doesnt seem fair. In response to your questions, particularly numbers 7 and 29 in the ANPR, I think the public interest is best served by keeping these markets open with strong oversight, and I believe informed traders like me help make prices more accurate, not less.
Im just asking for the freedom to participate in legal, regulated markets like the ones I use now. Please support proportionate regulation that addresses specific risks without broad bans or heavy restrictions. Lets keep prediction markets safe, transparent, and accessible to everyday people like me.
Thank you for considering my input.
Sincerely,
Devanta Miller
