Comment Text:
Dear Chairman and Commissioners,
My name is Matthew Radjewski, and I'm just a regular guy from Michigan who wants to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516). I've been actively trading on platforms like Kalshi for a while now, and Im hoping to make this a full-time pursuit. Im writing because I strongly support well-regulated prediction markets and believe they offer real value to people like me, as well as society at large.
Ive found prediction markets to be an incredible tool. Theyre not just a hobby; theyre a way to engage with the world around me. I spend hours researching events, analyzing data, and making informed decisions about everything from election outcomes to economic indicators. This isnt gambling. Its a process that takes skill and judgment, much like trading stocks or commodities. Classifying event contracts as gaming, as discussed in Questions 15-22 of the ANPR, feels wrong to me. These markets serve a real economic purpose, whether its hedging risks that affect my personal finances or contributing to price discovery that helps everyone make better decisions. I believe the CFTC should recognize this distinction and avoid blanket restrictions.
Another thing that worries me is the idea of over-restricting or banning these markets. If that happens, people like me wont just stop trading. Well be pushed to offshore platforms that arent regulated at all. Id much rather trade on a CFTC-registered market like Kalshi, where there are rules and protections in place, than take my chances on some sketchy foreign site. This ties into Questions 7-14 on public interest and consumer protection. Regulation is the way to keep us safe, not prohibition. Keep these markets legal and under your oversight, and youll protect participants while fostering innovation.
Lastly, I want to address the concern about insider trading or manipulation, as raised in Questions 29-32. I get why this is a worry, but banning markets isnt the answer. Informed trading actually makes prices more accurate, benefiting everyone, not just traders. And lets be honest, the CFTC already has tools to go after bad actors. Use those existing powers to crack down on abuse instead of punishing the rest of us who play by the rules.
Im asking you to support proportionate regulation of prediction markets. Dont ban or over-restrict them. Keep them legal, regulated, and accessible to everyday people like me who want to participate in a fair and transparent system. Thank you for considering my perspective.
Sincerely,
Matthew Radjewski
