Comment Text:
Dear Chairman and Commissioners,
My name is Parker Woolley, and I'm just a regular guy from Utah who likes to keep up with what's happening in the world. Im writing to comment 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 want to share why I support well-regulated prediction markets and why I think the CFTC should focus on proportionate rules instead of broad bans or restrictions.
For me, prediction markets are a unique way to get a read on big events like upcoming elections or even something fun like whos going to win Sunday Night Football. Ive found that the forecasts on these platforms are often way more accurate than polls or TV pundits. Thats not just helpful for someone like me whos curious, but its valuable for anyone trying to make sense of the world, whether its journalists, businesses, or even policymakers. Most users Ive come across on these platforms are like me, regular people who enjoy the mix of insight and engagement these markets offer.
I get that there are worries about gambling and other risks, and I dont dismiss those concerns. But this is the land of the free, where were trusted to take responsibility for our own choices. Most of us know not to risk anything were not willing to lose. Prediction markets arent just a safe recreational outlet for people like me; they also provide real, legitimate insight into the likelihood of future events. Banning or over-restricting them wont stop people from seeking out these opportunities. Itll just push activity to unregulated offshore platforms, which are far riskier than a regulated market like Kalshi.
On specific topics from your ANPR, Id like to address a couple of questions. Regarding Question 7 under Public Interest, I believe prediction markets do serve the public good by improving price discovery and giving better information for decision-making. Theyre not perfect, but theyre a tool we shouldnt throw away. And on Question 29 under Inside Information, I urge you to focus regulation on cracking down on insider trading rather than restricting entire markets.
I would ask the CFTC to support proportionate, targeted regulation of prediction markets. Dont shut them down or over-restrict them. Keep them safe and legal for everyday people like me to participate in.
Thank you for reading,
Parker Woolley
