Comment Text:
Dear Chairman and Commissioners,
My name is Jerry Sturdivant, and I'm just a regular guy from Nevada writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I'm not an expert or a big-time trader, just an everyday citizen whos fairly well educated and likes to stay informed. Ive recently gotten interested in prediction markets, and I want to express my support for regulating them in a way that lets people like me participate safely and legally.
Im new to prediction markets, but I find them kinda fun. Its a bit of a sport for me, using my knowledge and experience to try and outguess others. Its not about making a fortune, just engaging with something that challenges me to think about the world. I believe I should have the freedom to take part in legal, regulated markets like these without unnecessary barriers. Platforms like Kalshi, which operate under CFTC oversight, seem a lot safer than unregulated offshore sites where theres no accountability. If the CFTC bans or over-restricts these markets, I worry itll push people like me to those shady platforms instead, where theres no protection at all.
I also think the CFTC already has the tools to handle problems like manipulation or insider trading. From what Ive read, youve got rules and authority to go after bad actors in other markets, so why not apply that here? Theres no need to shut down something promising just because a few might misuse it. Plus, I believe the US should be leading the way in financial innovation. If we over-regulate or ban prediction markets, were just handing the future to other countries wholl embrace this stuff while we fall behind.
I noticed a few of your questions in the ANPR, like Question 7 on balancing innovation and consumer protection, and Question 13 on the public interest. My take is simple: let innovation happen with fair rules that keep people safe, not blanket restrictions. And for the public interest, allowing regulated markets gives regular folks access to useful tools while keeping things transparent.
Im asking you to support proportionate regulation of prediction markets. Dont ban them or make the rules so tight that only big players can participate. Keep platforms like Kalshi operating under your oversight, and let people like me engage in this legally and safely. Thanks for considering my perspective.
Sincerely,
Jerry Sturdivant
