Comment Text:
Dear CFTC,
I am writing to express my opposition to the proposed rulemaking that would restrict event contracts related to sports. As someone passionate about trading and leveraging new technologies, I see sports event contracts as being an invaluable resource to mitigate risks and losses not only for non-controlling team owners, but also media outlets, fans, sponsors, and really anyone who has invested stake in the outcome of a game or a season for a team or player.
These markets provide unique insights into public sentiment and can be a powerful tool for hedging and speculation. The argument that these contracts resemble gambling is unfounded; they offer legitimate economic value and help enhance market liquidity. The proposed ban is an overreach that ignores the benefits of such innovative financial instruments. Please vote no on these unnecessary restrictions.
Best regards,
Jamey
