Comment Text:
I write with enthusiasm regarding your request for comments on KalshiEX LLC's Congressional Control Contracts. I am a staunch supporter of these prediction markets for their unmatched accuracy in reflecting live probabilities that react swiftly to current events.
Prediction markets are more than just forecasting tools - they are crucial mechanisms that help correct over-hyped news and media narratives. By aggregating a wide range of views, they offer an invaluable 'outside view' of events, providing a baseline that individuals can use to form a more accurate understanding of our complex and rapidly evolving political climate.
In a time of information overload, these markets serve as a beacon of rationality and evidence-based prediction. They counterbalance sensationalist narratives and contribute to a healthier, more nuanced understanding of politics. This not only benefits market participants but also the public at large, fostering a more informed and engaged citizenry.
As someone who used to be anxious about the news, using prediction markets to ground myself with numbers rather than sensational headlines has been a great boost to my mental wellbeing. I would implore you to consider not just the people trading on the markets, but also those who will be able to refer to them as a valuable source of truth.
I understand and appreciate the importance of stringent regulation and oversight to prevent misuse. As the CFTC weighs the issue of KalshiEX LLC's Congressional Control Contracts, I implore the Commission to see the immense potential these markets offer for the public good and to find a balance between innovation and protection.
Sincerely,
David Chee
