Comment Text:
Dear Chairman and Commissioners,
My name is Sayed Hashimi, and Im a policy professional based in Colorado. Ive spent years working in government and policy spaces, focusing on how regulations can protect the public while fostering innovation. Im writing in response to the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I strongly support the development of well-regulated prediction markets in the United States, and I urge the CFTC to pursue proportionate, targeted regulation rather than broad restrictions or categorical bans.
I follow prediction markets closely, even though I dont trade on them myself. What draws me to these platforms is their ability to aggregate information and provide insights that often outpace traditional polls or expert opinions. As someone in policy, I see real value in having access to data that reflects what people actually think and predict about elections, economic trends, or other major events. This isnt just useful for traders; its a public good that can inform better decision-making at all levels.
My primary concern, and the reason Im writing, is consumer protection. I understand the risks of manipulation or misinformation in prediction markets, but I believe the answer lies in strong, targeted oversight rather than shutting down or overly restricting these platforms. If the U.S. imposes broad bans or excessive barriers, activity will simply move to unregulated offshore markets where theres no accountability. Ive seen this pattern in other policy areas: heavy-handed rules often push innovation and participation into less safe spaces. Regulated markets, like those on CFTC-registered Designated Contract Markets, offer transparency, dispute resolution, and enforcement mechanisms that protect consumers far better than the alternatives.
Id like to address a couple of specific questions from the ANPR. Regarding Question 7 under Public Interest, I believe the CFTC should balance innovation with consumer protection by focusing on specific risks like insider trading or manipulation, rather than broad prohibitions. Existing laws and CFTC powers already address many of these issues, as noted in your discussion under Core Principles. And for Question 23 under Procedural Aspects, I think public interest determinations should happen on a case-by-case basis for novel contracts, not through sweeping categorical decisions that might stifle legitimate markets.
Prediction markets have unique value, both for information discovery and for allowing regular people to engage with events that impact their lives. A heavy-handed approach would undermine that. I ask the CFTC to craft rules that target bad actors and specific risks without punishing the broader ecosystem. Lets keep these markets regulated, transparent, and accessible here in the U.S., rather than driving them offshore.
Thank you for considering my input.
Sincerely,
Sayed Hashimi
