Comment Text:
Dear CFTC Recipient,
I am writing to you as a small business owner in San Francisco who primarily uses market data/forecasts. My aim is to express my views on the importance of election contracts in the regulated marketplace.
As a business owner, I proactively use the predictive value that Kalshi’s markets provide to anticipate economic and political shifts (that are caused by who is elected or who is leading the polls in an election race) that oftentimes end up impacting my own business. This tool is great because the predicted political and economic shifts they provide helps me make strategic decisions that ensure my business continues to grow and adapt. This is crucial for small business owners like myself who need to navigate the uncertainties of economic and political landscapes.
I would like to highlight that the CFTC's election cop argument is not credible, and the current interpretation undermines the potential benefits these contracts offer for the predictive value, market transparency, and ability to manage risk associated with one's own finances and the finances of their business.
I am also concerned about the general approach of the CFTC. Effective regulation requires a collaborative approach, and I urge the CFTC to ask questions, do the hard work to understand these markets, and engage more actively with stakeholders to understand the practical implications of these regulations. Thus, I request that the CFTC extend the comment period an additional 60 days.
Thank you for your consideration.
Sincerely,
David Chen
