Comment Text:
Dear Chairman and Commissioners,
My name is Tim Meeker, and Im just an everyday citizen from New York writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im new to prediction markets, but Ive been following the conversation around them, and I strongly support their development under fair and reasonable regulation.
I believe in the freedom to participate in legal, regulated markets. Prediction markets offer a unique way for people like me to engage with real-world events, whether its an election, economic data, or policy changes that affect my life. I dont see this as gambling. Its about research and judgment, much like any other investment. Shutting down or over-restricting these markets would take away an opportunity for regular folks to have a stake in understanding and forecasting the world around us.
One big reason I support regulated prediction markets is safety. Platforms like Kalshi, which operate under CFTC oversight, are far safer than unregulated offshore sites. If the U.S. bans or puts heavy restrictions on these markets, people arent going to stop trading. Theyll just move to less transparent, riskier platforms outside the country. Thats not protecting anyone; its pushing the problem out of sight. Id much rather see the CFTC set clear rules that keep activity here, under your watch.
I also think the U.S. should be a leader in financial innovation. Weve got the talent and the resources to shape how prediction markets grow. If we step back or over-regulate, other countries will take the lead, and well miss out on the economic benefits and the chance to set global standards. Lets not cede that ground.
On the topic of informed trading, I believe it helps everyone. When people with good information trade, the prices get more accurate. That benefits not just traders but anyone looking at those prices for insight, whether its journalists, businesses, or even policymakers. I understand the concern about insider trading, as raised in Questions 29-32 of the ANPR, but I dont think the answer is to limit markets. Those laws already exist, and the CFTC has tools to enforce them. Focus on catching bad actors, not punishing the rest of us.
Im not an expert, but Ive read through parts of the ANPR, especially Questions 7-14 on public interest. I think the balance should tip toward innovation with smart oversight, not blanket restrictions. Prediction markets can be a tool for better information and fairness if we get the rules right.
I urge you to support proportionate regulation of prediction markets. Dont ban them or make the barriers so high that only big players can participate. Let everyday people like me have a chance to engage in a safe, regulated environment.
Sincerely,
Tim Meeker
