Comment Text:
Dear CFTC,
I am writing to express my support of political prediction markets and to advocate against imposing restrictions on these platforms.
Political predictions markets help regulate traditional markets. They give investors quick insight into what the probability is of politicians assuming office and relevant legislation being passed. In this manner they are no different (and in some cases more useful) than traditional futures markets are to stock investors.
They are also a check on disinformation. As foreign and domestic actors increasingly leverage Artificial Intelligence alongside more and more sophisticated methods of manipulating public trust and opinion, prediction markets act as in ironclad bulwark against the epistemological dark-age we are sliding precipitously into.
Participation in political prediction markets also increases civic engagement and civic knowledge. If I had never become involved in these markets, I don't think I would have ever learned who the senate parliamentarian was or what they did. I wouldn't be watching nearly as much CSPAN as I do right now. I would be missing out!!
Finally, they are used at the highest levels of government. In my line of work, I have personally asked several congressmen, senators, vice-presidential hopefuls, and lobbyists if they were familiar with the platform. Most of them are!
If my coworkers are allowed to make ridiculous fifteen-leg parlays on their myriad sports betting apps ever 15 minutes, I should be allowed to salivate over the latest Harris-Harvard poll, cross reference to what the focus groups are saying, and update my electoral college victory predictions.
Many thanks and thank you for your consideration.
