Comment Text:
Dear Chairman and Commissioners,
My name is Emmanuel Obianigwe, and I'm an everyday citizen from Massachusetts 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 strongly support their continued availability under fair, proportionate regulation by the CFTC. I believe these markets provide unique value to people like me and to society as a whole, and Im concerned about overly restrictive rules that could harm innovation or push activity to less safe venues.
Ive found prediction markets to be a powerful tool for getting information thats hard to find elsewhere. The prices reflect a kind of crowd wisdom that often beats out polls or talking heads on TV. This isnt just helpful for traders; its useful for anyone trying to make sense of the world, whether its understanding election outcomes or economic trends. I value the freedom to participate in these legal, regulated markets. Its not about gambling for me. Its about having a stake in understanding whats happening around us and making informed decisions based on real data.
One thing that really stands out to me is the safety of regulated platforms like Kalshi, which operate under CFTC oversight. Id much rather use a market thats transparent and accountable than take my chances with some offshore site where theres no protection if something goes wrong. Banning or over-restricting prediction markets doesnt solve problems; it just pushes people like me to unregulated corners of the internet. Thats a step backward, not forward. The US has a chance to lead in financial innovation here. We shouldnt hand that opportunity to other countries by making it too hard for these markets to operate legally at home.
I also think informed trading is a good thing, not a bad one. When people who know what theyre talking about participate, it makes the prices more accurate. That benefits everyone, not just the traders. Im glad the CFTC is asking about this in questions 29 through 32 under the Inside Information section. My view is that the answer isnt to shut down markets but to keep enforcing the laws we already have against insider trading and manipulation. Youve got the tools; use them.
Im just a regular person who sees value in prediction markets for better information and decision-making. Im asking you to support proportionate regulation that keeps these markets accessible and safe for participants like me. Dont ban broad categories or over-restrict them. Focus on specific risks with targeted rules. Lets keep the US at the forefront of innovation while protecting consumers.
Thank you for considering my input.
Sincerely,
Emmanuel Obianigwe
