Comment Text:
To whom it may concern,
I am writing in support of KalshiEx LLC’s (Kalshi) application for CFTC approval. I have been happily participating in Kalshi's prediction markets since 2021. I have found Kalshi to be secure, liquid and the team is very responsive and constantly working to improve the service.
I have also been a member of 'election twitter' for over a decade. It is a mix of professional pollsters, professional and amateur prognosticators, and most of all, Americans who just care deeply about elections. Prediction markets, whether offshore or PredictIt, have been an essential supplemental informational tool for the public, no more so than on election nights themselves. At present when more and more charlatans seek to cast doubt on elections (while the elections themselves have never been more secure or transparent), now is not the time to take away one of the public's tools on gaining insight in elections.
And what better option can one imagine than an American firm that has already proven itself as a prediction market. For the June CPI report, Kalshi's prediction (which is based on the collective predictions of its market participants) was spot on, besting every billion dollar wall st firm. It is only a matter of time before Kalshi's market predictions are cited by financial networks and publications prior to GDP, CPI and Unemployment reports. Kalshi is a serious outfit with serious participants. As a prediction market, it would be a major upgrade over PredictIt.
I have no doubt that Kalshi will meet any requirements the CFTC asks of it. All I ask is that the CFTC does not deny an essential tool when it comes to keeping the American publics faith in its elections.
Regards,
David Kashmiri
Morristown, NJ
