Comment Text:
Dear Chairman and Commissioners,
My name is Alexander Stowell, and I'm just an everyday citizen from Alaska writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm not an expert or a big investor, just someone who believes in personal freedom and the right to participate in legal, regulated markets. Im new to prediction markets, but I strongly support their existence under fair oversight by the CFTC.
Living in Alaska, we often feel far removed from the financial hubs of the world, but that doesnt mean we shouldnt have access to innovative tools like prediction markets. I see these markets as a way for regular folks like me to engage with and understand major events, whether its an election that impacts our taxes or a policy change affecting fishing regulations up here. Its not gambling to me; its about having a stake in the outcomes that shape our lives. I want the freedom to participate in these markets without being shut out by overly strict rules.
What really concerns me is the idea of pushing these activities underground. Ive read about platforms like Kalshi, which operate under CFTC regulation, and that feels so much safer than the alternative. If prediction markets are banned or over-restricted, people wont just stop trading. Theyll turn to unregulated offshore sites where theres no oversight, no consumer protection, and no accountability. Thats a much bigger risk to someone like me than a well-regulated market. Id rather see the CFTC set clear, fair rules that keep these markets in the open, under your watchful eye, than drive them into the shadows.
I noticed a few of your questions in the ANPR touch on this, like Question 7 about balancing innovation with consumer protection. My take is simple: regulation should protect people like me without killing off the whole idea. Also, Question 23 on when public interest determinations happen seems relevant. I think the CFTC should focus on making sure markets are safe and transparent upfront, rather than banning entire categories of contracts because of hypothetical risks.
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 them legal, regulated, and accessible to everyday citizens like me, and make sure they stay in the U.S. under your supervision instead of going offshore. Thank you for considering my perspective.
Sincerely,
Alexander Stowell
