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Comment for Industry Filing 23-01

  • From: Karen Conyngham
    Organization(s):

    Comment No: 71330
    Date: 7/20/2023

    Comment Text:

    Late last month, the Commodity Futures Trading Commission (CFTC) reported that it’s considering allowing a private company to run a virtual betting parlor for election results.

    Allowing betting on the outcomes of elections will encourage election interference, abuse of election officials, and other misconduct to maximize people’s winnings.

    Send a message to the CFTC: Speak out against allowing betting on election results!

    In the 2020 election cycle, we saw mistrust of our elections spread like wildfire.

    While far-right conspiracy theories around the 2020 Election are baseless, the last thing we need is a legitimate reason for people to question the outcomes of our elections:

    Malicious bettors could use artificial intelligence to create false or misleading videos aimed at changing popular opinion and maximizing their chances of winning a bet
    People could intimidate election officials in order to win bets, or harass and accuse them or wrongdoing if the outcome loses them money
    Politics is already a team sport, where people root for their party rather than learning about policy. Political betting would only make people even more singularly focused on the success of their party and not what governments are actually doing

    The CFTC should not add fuel to the fire of election conspiracy theories or ambush election officials with attacks from highly-motivated bettors.

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