Comment Text:
I am strongly against the proposed rule that would reclassify election forecast markets such as PredictIt as "gaming."
Elections are not "games of chance," and it's an insult to American democracy for you to imply that elections are "games of chance." Political polls are one valuable tool in a democracy, but research shows that election forecast markets (such as PredictIt) are not only generally accurate, but they are generally even more accurate than polling, Throughout its ten-year history, PredictIt has made these crowdsourced probabilistic forecasts available to the public, and makes anonymized trade data available to researchers who study patterns in the data.
These election forecast markets, therefore, are an invaluable tool to American democracy.
Shutting down the election forecast markets (such as PredictIt) would not only ne anti-democratic, but it would also harm American democracy by depriving the public of important information about America's democratic process and election process.
