Comment Text:
Dear Chairman and Commissioners,
My name is Zanne Barber, and I'm just an everyday citizen from Virginia 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 theyre a valuable tool that deserves fair and balanced regulation, not heavy-handed restrictions.
I support prediction markets because they give regular people like me a chance to engage with information in a unique way. I've noticed that the forecasts on these platforms are often more accurate than what I hear from polls or pundits on TV. Whether its an election outcome or some economic indicator, the prices seem to cut through the noise and reflect whats really likely to happen. That kind of insight isnt just helpful for traders; its useful for anyone trying to make sense of the world.
What worries me is the idea of banning or over-restricting these markets. Ive seen how regulated platforms like Kalshi operate with clear rules and oversight. That feels a lot safer than the alternative, which is pushing people to unregulated offshore sites where theres no protection at all. If the U.S. shuts down or limits access to legitimate markets, activity wont stop; itll just move to places where the CFTC cant do anything about it. I think the U.S. should be leading the way on financial innovation, not handing that advantage to other countries.
I also want to address concerns about manipulation or insider trading, which I know are on the CFTCs mind, especially in questions 29 to 32 of the ANPR. I get why this is a worry, but the CFTC already has strong tools to tackle fraud and manipulation in other markets. Those same powers can work for prediction markets too. Shutting down an entire system to stop a few bad actors doesnt seem right to me. Its like closing a highway because some people speed. Enforce the rules, dont punish everyone.
On the public interest side, as discussed in questions 7 to 14, I believe allowing regular folks to participate in legal, regulated markets is a matter of freedom and fairness. We shouldnt lock this kind of tool away for just big institutions. I want the chance to take part, and I think many others do too.
Im asking you to support proportionate regulation of prediction markets. Dont ban them or pile on restrictions that push people offshore. Craft rules that address real risks while letting these markets provide their unique value to people like me. Thank you for considering my input.
Sincerely,
Zanne Barber
