Comment Text:
I am writing to express my strong opposition to the proposed rulemaking by the CFTC to ban election-based event markets. I have witnessed firsthand ways in which Kalshi's prediction markets could have had transformative impacts on grassroots advocacy efforts in Maine. These markets could have provided valuable insights into political trends and public sentiment, essential for mobilizing community support and advocating for policies that reflect local priorities.
For instance, during our recent campaign for environmental protection legislation, if available and approved, Kalshi's election prediction markets could have accurately forecasted shifts in public opinion and legislative outcomes. This predictive data would have empowered our organization to strategically allocate resources and mobilize community members effectively. The proposed ban threatens to undermine these capabilities by depriving grassroots organizations of critical tools for evidence-based advocacy and civic engagement.
Furthermore, the lack of transparency and stakeholder engagement in the CFTC's decision-making process raises concerns about regulatory accountability and democratic principles. Instead of prohibition, I urge the Commission to extend the comment period and actively solicit input from community organizers, environmental advocates, and other stakeholders who rely on these markets to advance social justice causes and promote sustainable development.
Respectfully,
Jane
