Comment Text:
I oppose the proposed rule outlawing event prediction markets.
White I rarely participate in any of them, I find them useful information about the likelihood of future events, especially election contests. They are more timely, less biased, and usually more accurate than professional polling, as reflected by the fact that news organizations and others cite them.
The CFTC's proposed partial justification that such markets violate state gambling laws is unsupported and dubious. Even if it could be demonstrated that some state might prosecute such a market, that would be no excuse for a nation-wide ban; it is inappropriate for federal agencies to elevate some single state's prejudices to national policy.
There is already an excess of nanny-state interference with private rights. Leave us alone!
