CFTC signals new guidance for prediction markets as legal fight with states intensifies Suswati Basu News Editor The U.S. derivatives regulator is preparing new guidance and a formal rulemaking process for prediction markets, as the debate over whether such platforms resemble financial exchanges or gambling continues to escalate. Speaking at a Milken Institute event, … Continue reading CFTC signals new guidance for prediction markets as legal fight with states intensifies
Democratic senators question CFTC staffing cuts in Chicago enforcement office Suswati Basu Five Democratic senators are demanding clarity from the nation’s top derivatives regulator after learning that its Chicago enforcement team may have been dramatically reduced. In a letter issued Thursday (February 26) to Commodity Futures Trading Commission Chairman Michael Selig, Sens. Richard … Continue reading Democratic senators question CFTC staffing cuts in Chicago enforcement office
Sporttrade applies with the CFTC to become a registered exchange Ross Kilvington Suswati Basu Philadelphia-based financial technology company Sporttrade have recently announced that they will apply for federal exchange and clearing registration, according to a press release on Wednesday. The company have announced submission of Designated Contract Market (DCM) and Derivatives Clearing … Continue reading Sporttrade applies with the CFTC to become a registered exchange
CFTC issues no-action letters to four prediction markets Joel Loynds Suswati Basu The Commodities Futures Trading Commission (CFTC) has issued no-action letters to four different prediction markets. In a public announcement, the CFTC said it would give the all clear for “swap data reporting and recordkeeping regulations in response to requests from … Continue reading CFTC issues no-action letters to four prediction markets
ProphetX applies to the CFTC to launch a new prediction market Suswati Basu ProphetX has applied to the U.S. Commodity Futures Trading Commission (CFTC) to enter the bustling world of prediction markets. The brand, formerly operating as Prophet Exchange and known for its sweepstakes model across dozens of states, had investors including MIXI … Continue reading ProphetX applies to the CFTC to launch a new prediction market
Sleeper accuses CFTC of “illegal delay” to prediction markets application Graeme Hanna Sleeper Markets LLC, the entity operator of the popular fantasy sports app Sleeper, has publicly accused the U.S. Commodity Futures Trading Commission (CFTC) of an “illegal delay” on its application to register as a Futures Commission Merchant (FCM). This registration is an essential … Continue reading Sleeper accuses CFTC of “illegal delay” to prediction markets application
