Comment Text:
I'm writing in regard to your proposed rule that would classify political future markets on sites like "Predictit" as gaming and bring them under further regulation and discontinuance. I'm requesting that you rescind this proposed rule and abide by your original "no action" letter that was offered to Predictit. I've also received a "no action" letter from a state environmental agency on some land that I own. If the CFTC gains a ruling allowing them to negate the legal protections offered by the original "no action" letter provided to "Predictit", this will also serve to degrade the reliance on letters such as these when it comes to lending and other legal matters in a multitude of situations. Will I still be able to obtain a line of credit against my property when my EPA "no action" letter is no longer trusted due to your legal actions against "Predictit"?
Further, sites such as these provide an important and tangible service in terms of education and engagement in political matters. They are by no means "gaming". I can testify from personal experience that many hours of careful research goes into making a trade into "Predictit" markets. I consider them just as much of an equity asset as I do my stocks.
In conclusion, my experience with "Predictit" has encouraged me to be more educated and active in political matters. It is an interesting and profitable part of my portfolio of assets. Please rescind any identification of this market as "gaming" via a reversal of your recent proposed rule in this regard. Also, please keep the integrity and trust that investors, financial institutions, markets and governmental agencies place in "no action" letters by desisting in your efforts to rescind your letter originally offered to "predictit".
Thank you.
