Comment Text:
This proposal hurts the public interest. The CFTC must reject it.
Allowing this proposal will undermine the integrity of our elections and our democracy. The last thing we need is a legitimate reason for people to question the outcomes of our elections.
Allowing betting on election outcomes will create strong financial incentives for special interests to manipulate and interfere in our elections. A Wall Street firm could place a massive bet on election outcomes – then spend millions on Super PACs and disinformation campaigns to try and skew the results. Malicious bettors could use artificial intelligence to create false or misleading videos aimed at changing popular opinion and maximizing their chances of winning a bet.
Allowing this proposal will reduce voter confidence, and lead to a perception that election outcomes are not solely determined by voters’ choices, but also by those who bet on election results. How could we trust our democracy if it becomes a literal plaything for billionaire bettors?
Allowing this proposal puts personal gain ahead of the public interest. We already have a major problem when wealthy special interests try to manipulate our elections for financial gain. The last thing we need to be doing is encouraging that behavior even more. People could intimidate election officials in order to win bets, or harass and accuse them or wrongdoing if the outcome makes them lose money.
Allowing this proposal undermines the principle of one person, one vote – the bedrock of our democracy.
This is one of the most atrocious ideas ever proposed in this nation. It is a democracy destroying idea and must never be heard of again!!!
