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Comment for Proposed Rule 89 FR 48968

  • From: David Lux

    Comment No: 73733
    Date: 5/23/2024

    Comment Text:

    Good Day,
    I am writing in regards to the proposed rule on Events Contracts. I have looked at a couple of these sites and find them a fascinating illustration of how the futures markets work outside of the traditional bounds of financial instruments. I have also participated in buying 2 small-dollar long contracts on one site as an experiment. These particular contracts are political in nature which adds another interesting element into the functioning of the markets.
    If you view these sites as gambling, I would strongly disagree. I study various information sources to make my choices. And the particular site I use (PredictIt) also provides excellent new information every week as we get closer to an election. I use this to inform if / when to close out a position. The dollar amounts are limited, but it does serve as a great educational tool for me and my son.
    Limiting the dollar value of contracts seems to be a good compromise but I would suggest completely banning Events Contracts only shows a lack of understanding who and how these are used.
    Thank You.

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