Comment Text:
Dear Chairman and Commissioners,
My name is Sreeram Gunti, and I'm a healthcare professional from Minnesota. I'm writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I actively trade on platforms like Kalshi, and I strongly support the CFTC crafting fair, proportionate regulations for prediction markets rather than imposing heavy restrictions or outright bans.
As someone working in healthcare, I value accurate information. My job often depends on understanding trends, whether it's anticipating flu season spikes or preparing for policy changes that impact my workplace. I've found prediction markets to be an incredible tool for cutting through noise. The forecasts on platforms like Kalshi are often sharper than what I see from polls or pundits on TV. For example, during the last election cycle, I watched market odds on Kalshi predict outcomes with a precision that no news outlet matched. This kind of aggregated insight isn't just useful for traders like me; it helps the public and even policymakers make better decisions. I believe the CFTC should recognize this value when considering regulations, especially in response to questions 7 and 8 about public interest and price discovery.
I also care deeply about having the freedom to participate in legal, regulated markets. Prediction markets aren't just a hobby for me; they let regular people like me engage with big issues in a meaningful way. But I know not all platforms are created equal. Trading on a regulated market like Kalshi gives me confidence that there are safeguards in place, unlike the risks of offshore, unregulated sites. If the CFTC over-restricts or bans these markets, I worry it will push activity to those shadier corners of the internet, which helps no one. On questions 11 and 12 about consumer protection, I urge you to prioritize rules that keep markets safe and transparent here in the US, rather than driving users overseas.
Finally, I think the US should be a leader in financial innovation. We have the chance to set a global standard for how prediction markets can work responsibly. If we stifle them with heavy-handed rules, other countries will step in and take the lead. I believe the CFTC can strike a balance, protecting consumers while fostering growth, as raised in question 10 about balancing innovation and risk.
Prediction markets matter to people like me. They give us better information and a fair shot at participating in important discussions through trading. I ask that the CFTC support well-regulated prediction markets with rules that address real risks without shutting down the whole industry. Thank you for considering my input.
Sincerely,
Sreeram Gunti
