Comment Text:
Dear esteemed CFTC Commissioners,
I am writing to express my utmost support for Kalshi's Filing 23-01, which proposes to allow real money prediction markets on the political party that will be in control in the United States. This bold initiative has the potential to revolutionize prediction markets and contribute significantly to the transparency, efficiency, and accuracy of forecasting in the political arena.
Prediction markets have proven to be powerful tools for aggregating information and forecasting future events. By leveraging the collective intelligence of participants, they provide invaluable insights into the likelihood of specific outcomes, allowing for more informed decision-making across various sectors. The integration of political predictions within real money markets will not only enhance their credibility but also incentivize active participation and responsible engagement.
Furthermore, the acceptance of Kalshi's filing will foster greater public engagement in the political process. Citizens will have a direct stake in the outcome, leading to increased civic interest and awareness. This, in turn, can potentially lead to higher voter turnout and a more informed electorate, strengthening the very foundation of democracy.
Allowing real money prediction markets will also spur innovation and economic growth. It will attract new investment and entrepreneurial ventures, leading to the creation of jobs and boosting technological advancements in the prediction market industry. By embracing this proposal, the CFTC can play a crucial role in supporting innovation and promoting financial inclusion.
It is essential to acknowledge that prediction markets, like any financial instrument, must be properly regulated to ensure integrity, fairness, and investor protection. Kalshi has demonstrated its commitment to adhering to regulatory standards and has put forth robust measures to prevent manipulation and insider trading. Their dedication to compliance should serve as a testament to their reliability as a responsible market operator.
In conclusion, I urge the CFTC to approve Kalshi's Filing 23-01 and pave the way for the introduction of real money prediction markets on political outcomes in the US. This decision will not only boost prediction market industry growth but also empower citizens to participate more actively in the democratic process and contribute to a more informed and engaged society.
Thank you for your time and consideration. I trust that you will make the right choice for the future of prediction markets and the advancement of democratic principles.
