Comment Text:
Dear Chairman and Commissioners,
My name is Bravik Home, and I'm just an everyday citizen from Washington state writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I've been actively trading on platforms like Kalshi for a while now, and I strongly support the idea of well-regulated prediction markets. I believe they offer unique value to people like me and to society as a whole, and I hope the CFTC will create rules that encourage innovation while addressing real risks.
I got into prediction markets because I wanted better information about things that affect my life, like economic trends or political outcomes. The prices on these platforms often tell me more than any poll or news pundit can. It's not just about making a few bucks; it's about understanding the world better. I think this kind of price discovery helps everyone, not just traders. Beyond that, I don't see this as gambling at all. Trading on Kalshi takes research and judgment, just like investing in stocks. These event contracts serve real purposes, whether it's figuring out the odds of a policy change or hedging against something that could hit my wallet.
What worries me is the idea of banning or over-restricting these markets. I've seen unregulated offshore platforms out there, and they're nowhere near as safe or transparent as a regulated market like Kalshi. If the CFTC clamps down too hard, people like me will get pushed to those riskier venues. That can't be the goal. The US should be leading the way in financial innovation, not handing the advantage to other countries. I want to see America at the forefront of this space, and that means smart, balanced rules.
Looking at some of the questions in the ANPR, Id like to weigh in on a couple. On Question 7 under Public Interest, about balancing innovation and consumer protection, I think the focus should be on targeted rules for specific risks like manipulation, not broad bans. And on Question 15 under Listed Activities, about defining whats gaming versus legitimate, Id argue event contracts arent gaming when theyre tied to real-world outcomes with economic impact. Proportionate regulation is the way to go, not sweeping prohibitions that punish everyone for the actions of a few bad actors.
Im asking the CFTC to support prediction markets with fair, focused regulations that keep them safe and accessible. Dont let heavy-handed rules or outright bans drive this valuable tool offshore or out of reach for ordinary folks like me. Thank you for considering my perspective.
Sincerely,
Bravik Home
