Comment Text:
Dear Chairman and Commissioners,
My name is Angela Vowell, and I'm an everyday citizen from Texas writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm new to prediction markets, but I strongly support their existence and believe they should be regulated in a fair, balanced way that allows regular people like me to participate in legal, safe markets.
I value the freedom to engage in these markets because they offer a unique way to understand and respond to the world around us. Prediction markets aren't just for big investors or institutions. They give someone like me a chance to have a stake in events that impact my life, whether it's an election that could change my taxes or a policy decision that affects my community. Ive read that informed trading in these markets actually improves price discovery, meaning the prices reflect real information better than polls or pundits. That benefits everyone, not just traders. It's a tool for clarity in a noisy world, and I think that's worth protecting.
I also believe the CFTC should focus on proportionate, targeted regulation rather than broad bans or overly restrictive rules. I understand there are concerns about things like insider trading or manipulation, and those should be addressed. But shutting down entire categories of markets or making it impossible for regular folks to participate punishes the wrong people. The CFTC already has tools to tackle bad actors. Use those tools, don't close the door on something valuable. Im particularly drawn to the questions you raised in the ANPR under Topic B, like Question 7 about balancing innovation and consumer protection. I think you can do both by setting clear rules without overreaching.
Finally, I want the United States to lead the way in financial innovation. If we over-regulate or ban prediction markets, we're just pushing this activity to other countries or unregulated platforms where theres less oversight. That doesn't make anyone safer. It just means we lose out on the benefits and the chance to shape how these markets grow. Your questions in Topic F, like Question 33 on classification and costs, made me think about how important it is to keep regulation reasonable so small players aren't priced out.
I urge you to support well-regulated prediction markets that allow everyday citizens to participate. Please craft rules that target specific risks without banning or overly restricting these valuable tools. Thank you for considering my perspective.
Sincerely,
Angela Vowell
