Comment Text:
Dear Chairman and Commissioners,
My name is Jayden Jones, and I'm a student from Georgia. 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 been actively trading on platforms like Kalshi for a while now, and I strongly support the idea of well-regulated prediction markets. I believe they serve an important purpose for people like me, as well as for businesses and society at large.
As a student, I don't have a ton of money to throw around, but trading on prediction markets has given me a way to engage with real-world events in a meaningful way. It's not just about making a few bucks. It's about having access to information and insights that I can't get from news or polls. I've seen firsthand how these markets often predict outcomes more accurately than so-called experts. That kind of data is valuable to everyone, not just traders. Plus, letting regular folks like me participate feels fair. If only big institutions could trade, they'd hoard all the benefits and information. I think democratizing access makes the system better and the predictions sharper.
I also want to stress that prediction markets aren't gambling, no matter what some might say. Trading on these platforms takes research and judgment, just like investing in stocks. I've spent hours reading up on economic trends or election dynamics before making a trade. And there's real value in hedging risks. For me, it's about small things like betting on inflation data that might affect my student loan planning. But I know businesses use these markets to protect against bigger risks, like policy changes or economic shifts that could hurt their bottom line. That's not a game. It's a practical tool.
I understand there are concerns about things like insider trading or market manipulation. I'm not ignoring those risks. But the CFTC already has laws and tools to tackle bad actors. Insider trading is illegal, whether it's in stocks or prediction markets. Shutting down entire markets to stop a few cheaters feels like overkill. It punishes the rest of us who are just trying to participate legally. I'd urge you to look at specific safeguards instead of broad bans, especially in response to questions 29 through 32 on insider information. How can existing rules be adapted to protect these markets without killing them off?
I'm also drawn to questions 7 through 14 on public interest. I believe the balance should lean toward innovation and access while still protecting consumers. Regulated markets like Kalshi are a safer bet than pushing activity to shady offshore platforms. Let's keep this in the open, under your oversight.
In short, I ask that the CFTC support proportionate regulation of prediction markets. Don't ban or over-restrict them. They offer real benefits for forecasting and risk management, and I want to keep participating in a legal, safe way. Thank you for considering my perspective.
Sincerely,
Jayden Jones
