Comment Text:
Dear Chairman and Commissioners,
My name is Ashton Sims, and I'm a trader and investor based in Florida. I've been actively trading on prediction markets like Kalshi for a while now, and Im writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I strongly support the idea of well-regulated prediction markets, and I hope my perspective as someone who uses these platforms can help shape your approach.
I rely on prediction markets for insights that I just can't get elsewhere. Whether it's an election outcome or another major public event, the prices on these platforms often cut through the noise of polls and pundits. I've seen firsthand how they provide sharper, more accurate forecasts. That benefits not just traders like me, but anyone who wants a clearer picture of whats likely to happen, from journalists to policymakers. It's not gambling; it's a tool for understanding the world better.
One thing I value about platforms like Kalshi is that they're regulated. I feel safer knowing theres oversight, which is a far cry from the unregulated offshore sites out there. If the CFTC cracks down too hard or bans these markets, I worry that activity will just move to those shadier platforms where theres no protection for users. Regulation done right keeps us safe and keeps the US in control of this space. Honestly, I think the US should be leading the way in financial innovation like this, not letting other countries take the reins. Weve got the talent and the markets to set the standard.
I also believe that informed trading, where people bring their knowledge to the table, makes prediction markets stronger. Better information leads to better prices, and that helps everyone, not just the traders. Sure, theres a risk of insider abuse, but the CFTC already has tools to tackle that. Punishing the whole market for a few bad actors doesnt seem fair to me. In response to your questions 29 through 32 on inside information, Id say lets focus on enforcing existing laws rather than restricting access for regular participants like me.
As for your questions 7 through 14 on public interest, I think the balance tips toward innovation. These markets give people like me a chance to engage with events that matter, and they produce real value through forecasting. I urge you to support proportionate regulation that addresses specific risks without shutting down or over-restricting prediction markets. Lets keep them legal, safe, and accessible.
Thank you for considering my input.
Sincerely,
Ashton Sims
