Comment Text:
I think the CFTC should allow Kalshi to host political markets. I've read other comments that say allowing Kalshi while barring PredictIt would be unfair, but that seems wrongheaded to me. PredictIt was banned because it was a monopoly pretending to be a nonprofit that charged exorbitant fees, it treated users money carelessly, and it completely disregarded its agreement with the CFTC (the no action letter)! So the existence of the political markets themselves were incidental to the CFTC's decision to shut PredictIt down. Thus allowing Kalshi isn't a contradiction of this prior decision, nor is it "picking winners and losers", because Kalshi is not pretending to be something it's not, nor is it being careless with user's money or disregarding an agreement with the CFTC. Because none of these other prerequisites hold, the CFTC cannot be deemed guilty of having a double standard. Political event markets are a clear public good (as seen by the outcry over predictit being shut down) and they deserve an actually regulated, sane, and competent exchange to host them!
