Comment Text:
To the Commodity Futures Trading Commission (CFTC),
I am writing to express my strong opposition to the proposed rule that would classify election futures markets as "gaming" and effectively ban participation in them. As an engaged and informed citizen, I believe in my right to participate in prediction markets for political outcomes.
Prediction markets, such as PredictIt, serve a valuable role in our society. They are not mere gambling platforms; rather, they are sophisticated tools that aggregate diverse opinions and information to generate highly accurate forecasts. These markets allow participants to apply their knowledge, analytical skills, and insights into political events to make informed predictions. This process enhances public understanding of electoral dynamics and contributes to a more informed electorate.
By participating in these markets, I and many others engage in a serious intellectual exercise that involves analyzing trends, evaluating information, and making calculated decisions. This activity is fundamentally different from gambling, as it is rooted in research, experience, and reasoned judgment.
The proposed rule undermines the legitimate and beneficial nature of prediction markets. It restricts my freedom to engage in an activity that is both intellectually stimulating and valuable for society. I urge the CFTC to reconsider this proposal and recognize the importance of preserving the right to participate in election futures markets.
Sincerely,
Charles B Vance
