Comment for Proposed Rule 89 FR 48968
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From:
Gene McCulley
Organization(s):
private citizen, investor
Comment No:
74449
Date:
8/8/2024
Comment Text:
I appreciate the opportunity to comment on Proposed Rule 89 FR 48968. As a proponent of prediction markets, I think that they are not yet used enough to help the public better understand events. The proposed rule against elections is the wrong approach. The CFTC has not made a compelling argument that prediction markets on elections will jeopardize the integrity of elections. Elections in the U.S. are influenced already by many entities other than voters. Prediction markets are not a major concern. Worse, prohibiting election markets forecloses on possible ways to better provide information to voters and those otherwise impacted by elections. We need more and better information, not less. As a citizen, I am much more interested in the opinions of those who have invested in speculation on markets than those who have no economic interest. This rule should be reconsidered.
