Comment Text:
Dear CFTC,
I am currently the director of a nonprofit organization dedicated to community development and I constantly monitor political developments that impact our funding opportunities and regulatory landscape. Legislative changes can alter the availability of grants, affect tax-exempt statuses, and influence the broader socio-economic environment in which we operate. Kalshi’s election contracts could serve as an invaluable tool, allowing us to better anticipate these changes and strategically plan our programs and advocacy efforts.
The CFTC’s decision to ban these markets is not only misguided but also detrimental to organizations like mine that rely on accurate predictive data to navigate uncertain political waters. Without these contracts, we are left guessing at potential legislative shifts, which can lead to inefficient use of resources and missed opportunities. Moreover, these markets provide a level of transparency and regulatory compliance that is currently absent in many traditional forecasting methods. They offer a more reliable and regulated source of information, helping us make informed decisions that directly benefit our community projects.
The proposal to prohibit these contracts seems to disregard the tangible benefits they offer to a wide array of sectors beyond just financial markets. Effective risk management and strategic planning are essential for nonprofits to fulfill their missions. By eliminating this tool, the CFTC is not protecting the public but rather limiting our ability to adapt and respond to political risks that significantly impact our work and the communities we serve.
Further, the CFTC has done nothing to explain their ban on these markets. You have proposed this rule behind closed doors -- which leads the public to believe this is all about internal politics and not about the public, stakeholders, business owners, and people who would benefit from these markets. Please make the right decision by voting no on this proposal and extending the comment period to allow other concerned citizens to weigh in.
Sincerely,
Brian Carterson
