Comment for Proposed Rule 89 FR 48968
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From:
Nikil W
Organization(s):
Comment No:
74141
Date:
8/6/2024
Comment Text:
Thank you for the opportunity to comment on the CFTC's proposed rule regarding election markets. I strongly oppose this proposal, as it undermines the critical value of these markets for hedging against political risks and providing valuable forecasting data. Election markets enable investors to mitigate uncertainties tied to elections, helping them manage risks associated with policy changes and economic impacts. Additionally, the collective insights reflected in market prices enhance forecasting accuracy, as historical data has shown a strong correlation with actual election outcomes.
The CFTC's proposed rule threatens to restrict the functionality of these markets by imposing unnecessary limitations on event contracts related to political outcomes. This could stifle innovation and reduce liquidity, ultimately hindering effective price discovery. I urge the Commission to reconsider this proposal and recognize the importance of maintaining robust and accessible election markets for all stakeholders. This version is brief yet captures the essential arguments.
