Comment Text:
Dear Commissioners,
I’m submitting this letter for Sunday Lawn Care, a start-up subscription lawn care service. Thank you for your consideration of KalshiEX’s contract proposal. As part of the public review, we wanted to contribute and make clear that we are among the many businesses that have supported the proposal. We encourage the Commission to approve the contract, which would lay the groundwork for more prediction markets that would create meaningful opportunities for hedging and price basing.
Markets are an important mechanism for solving informational problems; both internally for organizations and through more traditional financial assets and tradeables. Many assets are implicitly prediction markets; the prices of equities already reflect the imputed probabilities of parties taking control of Congress and their potential impacts. However, an event contract on Congressional control would allow both hedging and information aggregation to happen in a way more convenient for small businesses and retail investors. It’s not fair that these tools be limited to large businesses and banks. Rather, they should be, with a low and appropriate position limit, be available to the general public for use.
Thank you again for considering Kalshi’s proposal, and we look forward to the CFTC’s decision!
