Comment Text:
Dear Chairman and Commissioners,
My name is Dammeon Emillio, and I'm writing from Oklahoma as an everyday citizen who actively trades on prediction markets like Kalshi. I'm reaching out in response to the Advance Notice of Proposed Rulemaking on Prediction Markets (91 FR 12516) to express my strong support for well-regulated prediction markets. Due to health issues, I can't work a traditional job, and these markets give me a chance to participate in the economy on equal footing with able-bodied folks. I believe in choosing my own risks, just like anyone else, and I shouldn't be limited because of a disability.
I rely on prediction markets for unique information that I can't get from polls or pundits. I've seen firsthand how their forecasts on elections and public events are often more accurate, and that helps me make better decisions about my own finances. Beyond that, these markets let me hedge real risks, like potential policy changes that could impact my limited income. This isn't gambling to me. It takes research and judgment, just like investing in stocks. Classifying event contracts as "gaming" feels wrong when they serve real economic purposes like price discovery and risk management.
I'm also worried about what happens if these markets get banned or over-restricted. I've looked at offshore platforms, and they're nowhere near as safe as regulated ones like Kalshi. Pushing activity overseas doesn't protect consumers like me; it just makes things riskier. The CFTC already has strong tools to stop manipulation and insider trading in other markets. I trust those can be applied here without resorting to broad bans. Plus, informed trading actually improves prices and benefits everyone by making the market smarter. I think the US should be leading in financial innovation, not leaving it to other countries.
Looking at your specific questions, I want to address a few. On Public Interest (Questions 7-14), I believe prediction markets balance innovation and consumer protection by giving us better data for decision-making while operating under CFTC oversight. On Listed Activities (Questions 15-22), event contracts shouldn't be treated as gaming since they have legitimate uses. And on Inside Information (Questions 29-32), I think informed traders help price discovery, and existing laws already cover insider trading risks.
I urge you to support proportionate regulation that targets specific issues like manipulation, rather than broad restrictions that hurt regular people like me. Let's keep these markets safe, accessible, and innovative right here in the US. Thank you for considering my perspective.
Sincerely,
Dammeon Emillio
