Comment Text:
if.market respectfully submits the attached comment in response to the Commission's Advanced Notice of Proposed Rulemaking on Prediction Markets (91 Fed. Reg. 12,516). The attached letter introduces conditional asset pricing markets — a category of cash-settled, USDC-denominated instruments that discover the price of a financial asset conditional on a specific event outcome. These instruments are distinct from traditional prediction markets and binary event contracts. The letter describes the protocol's mechanics, its full collateralization properties, oracle design, and explains why these instruments serve genuine price discovery and hedging functions rather than gaming. We respectfully urge the Commission to recognize this category as it develops its regulatory framework. Please see the attached document for the full comment.
