Comment Text:
Dear Chairman and Commissioners,
My name is Mohamad Rashidzada, and I'm just an everyday citizen from Texas writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've used prediction markets a few times, and I believe they have real value when properly regulated. I'm not an expert or a big trader, just someone who wants the freedom to participate in legal, safe markets without being pushed into risky, unregulated alternatives.
I've placed a few trades on platforms like Kalshi, which is registered with the CFTC. I felt secure knowing there are rules and oversight in place. That matters to me. Prediction markets give people like me a way to engage with events that affect our lives, whether it's an election or an economic decision. It's not gambling, it's a way to put my judgment to the test and maybe hedge against things that could impact my budget. But my biggest concern is safety. If the CFTC over-restricts or bans these markets, I worry that people will turn to offshore platforms with no protections. I've seen those sites advertised, and they look shady. No oversight, no recourse if something goes wrong. Regulated markets are far better than that.
I also believe the CFTC already has the tools to handle problems like manipulation or insider trading. I've read that you have broad authority to go after bad actors in any regulated market. Why create heavy-handed bans when you can use those existing powers? Targeted rules make more sense to me than shutting down entire categories of contracts. I'm particularly interested in your questions under Topic Area B, like Question 7 on balancing innovation and consumer protection. I think the balance tips toward allowing innovation as long as there are clear safeguards, not broad prohibitions. And in Topic Area D, Question 23 about when public interest determinations should happen, Id say do it early but dont use it as an excuse to block markets before they even start.
I just want to be able to participate in a legal, regulated space without worrying about scams or losing protections. Banning or over-restricting these markets won't stop people from trading, it'll just push us to less safe places. Please focus on proportionate regulation that keeps platforms accountable while letting everyday folks like me take part. I'm counting on the CFTC to get this right.
Thank you for considering my input.
Sincerely,
Mohamad Rashidzada
