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Comment for Proposed Rule 89 FR 48968

  • From: Shivansh Bansal
    Princeton University
    High Meadows Environmental Institute

    Comment No: 73730
    Date: 5/23/2024

    Comment Text:

    Dear Commodity Futures Trading Commission (CFTC),

    I am writing to express my strong opposition to the proposed rule that would prevent U.S. citizens from participating in election futures markets such as PredictIt. As a seasoned political trader, I believe this proposal is misguided and fails to recognize the valuable role these markets play in our democratic process.

    When we trade on platforms like PredictIt, we are not merely gambling or guessing. Instead, we carefully analyze complex information, distinguish fact from fiction, and make informed decisions based on our experience, intelligence, and intuition. Together with other traders, we contribute to highly accurate and influential expectations of future events.

    The proposed rule wrongly categorizes election futures markets as “gaming,” reducing them to mere chance. In reality, they provide a unique avenue for civic engagement and informed speculation. By participating, we contribute to a more transparent and efficient political landscape.

    I urge the CFTC to reconsider this proposal. Rather than stifling innovation and market participation, we should embrace the insights and predictions generated by these platforms. The CFTC’s role should not be that of an “election cop,” but rather a facilitator of fair and transparent markets.

    I appreciate your attention to this matter and encourage you to carefully consider the impact of this rule on informed traders and the democratic process. Thank you for your continued support, and I look forward to reading your response.

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