Comment Text:
Basic principles of fairness require that the CFTC allow this contract on regulated markets. PredictIt won its appeal and will be offering these at the retail level. It would violate the basic fundamental ideas of fairness for the CFTC to not allow this contract. But that is not the main point. The main point is that PredictIt shows that these contracts are in the public interest. They show that the harm that all these other commenters are worried about, while understandable, not only is not relevant to this contract, is contradicted by evidence. And now the CFTC has its statutory duty to promote innovation and competition and to allow these contracts.
Attached is the recent decision regarding PredictIt’s operation from the 5th Circuit.
