Comment on CFTC-2026-1189, CFTC-2026-1189-0001, Christopher, Calaycay

Dear Chairman and Commissioners: My name is Christopher Calaycay. Im a trader and investor from California, and I actively trade event contracts on Kalshi and similar platforms. I support the CFTCs proposed rule, Prediction Markets; Public Interest Determinations, RIN 3038-AF65, published at 91 FR 35806. I generally believe the government should avoid unnecessary regulation and preserve peoples freedom to participate in markets. When regulation is necessary, the rules should be clear, reliable, and based on the actual facts. That is why I support the proposals contract by contract approach under Regulation 40.11. The Commission should review each contract on its own merits and explain its reasoning rather than banning entire categories in advance. As someone who trades these products, I want to understand the rules and the basis for each decision. I dont want legitimate markets to disappear because of a blanket decree. The Commission should also keep its recognition that blocking a contract on a U.S. regulated exchange doesnt eliminate demand. It pushes traders toward offshore sites. Those venues may lack segregated customer funds, effective market surveillance, and meaningful recourse when something goes wrong. Giving people access to lawful contracts on CFTC overseen exchanges is far better than driving the same activity outside the regulated U.S. market. I also support the proposals broad treatment of price discovery and information value. I dont use every event contract as a hedge. Sometimes I trade or follow a market because its price provides a useful, continuously updated signal about what participants think is likely to happen. That information has value when assessing economic developments, public policy, sports, and other events. The mainstream sports markets I follow, including final scores and who wins, as well as season-long and tournament outcomes, serve the public interest. The same is true for point spreads, margins of victory, and player or team statistical totals. These contracts settle using objective, publicly verifiable results that no single market participant can control. Their prices aggregate information and expectations in a useful way. These mainstream sports markets belong on well-regulated, CFTC overseen exchanges, operating under clear and reliable rules. I understand that legitimate concerns exist at the edges. Im not defending contracts based on player injuries, in-game fights or altercations, or youth and pre-collegiate sports. I also support prohibiting contracts involving war, death, assassination, and terrorism. Please finalize the proposal while keeping its contract-specific review, reasoned decisions, recognition of offshore displacement, and meaningful consideration of price discovery and information value. This approach protects market freedom while giving traders understandable rules and access to responsible U.S. venues. Sincerely, Christopher Calaycay