Comment Text:
How could we trust our democracy if it becomes a literal plaything for billionaire bettors?
The answer: it’s nearly impossible. But that’s exactly the outcome we can expect if election gambling is allowed.
The fact is, 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. Our elections are not a game to be won or lost for financial gain – they’re supposed to be about one person, one vote.
These are just some of the ways that this proposal hurts the public interest and why the CFTC must reject it:
Allowing this proposal will undermine the integrity of our elections and our democracy.
Allowing betting on election outcomes will create strong financial incentives for special interests to manipulate and interfere in our elections.
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.
Allowing this proposal puts personal gain ahead of the public interest.
Allowing this proposal undermines the principle of one person, one vote – the bedrock of our democracy.
Imagine the disaster for our democracy if a Wall Street firm could place a massive bet on election outcomes – then spend millions on Super PACs and disinfo campaigns to try and skew the results.
This is yet another threat to the integrity of our democracy. That’s why I am urging the Commodity Futures Trading Commission to REJECT this huge, new angle to corrupt our democracy.
