Comment on CFTC-2026-0331, CFTC-2026-0331-0001, Tyler, Koehn

Dear Chairman and Commissioners, My name is Tyler Koehn, and I'm a trader and investor from Oklahoma. I've been actively trading on prediction markets like Kalshi and Polymarket for a while now, and I'm writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I strongly support the idea of well-regulated prediction markets and believe the CFTC should focus on proportionate rules rather than overly restrictive bans. As someone who trades regularly, I value the freedom to participate in legal, regulated markets. Prediction markets aren't just a hobby for me. They offer unique information and a way to hedge against real-world uncertainties, like election outcomes or economic shifts that impact my investments. Platforms like Kalshi, which operate under CFTC oversight, give me confidence that there are rules in place to protect traders like me. I've seen firsthand how a regulated environment provides transparency and fairness, something you don't get with unregulated offshore platforms. My biggest concern is that banning or over-restricting prediction markets will push activity to those less safe, offshore venues. I've traded on Polymarket too, and while it's useful, it's not under the same scrutiny as a CFTC-registered platform. If the US clamps down too hard, people like me won't stop trading. We'll just go where the markets are, even if it's riskier. That doesn't help anyone. The US should be leading in financial innovation, not handing the advantage to other countries. We have the chance to set the standard for how these markets work, and I think we should take it. I also want to address some of the questions in the ANPR, specifically around public interest and procedural aspects, like Questions 7 and 23. I believe prediction markets serve a clear public good by providing accurate information and letting regular folks participate in price discovery. But I'm not blind to the risks. There are concerns about manipulation or insider trading, sure. The answer isn't to shut everything down, though. It's to craft targeted rules that address specific problems without killing the whole market. Broad categorical bans punish honest traders like me and don't solve the root issues. I've put time and research into trading on these platforms, just like I do with stocks or commodities. This isn't gambling. It's a legitimate financial tool, and I hope the CFTC sees it that way. I'm asking you to support proportionate regulation that keeps prediction markets accessible, safe, and under US oversight. Don't let heavy-handed restrictions drive innovation and activity overseas. Thank you for considering my perspective. Sincerely, Tyler Koehn