CFTC Issues No-Action Letter on Prediction Market Data Reporting
Cointelegraph
The CFTC issued a no-action letter simplifying data reporting and recordkeeping requirements for operators of fully collateralized event contracts.Summary
The U.S. Commodity Futures Trading Commission (CFTC) has issued a no-action letter providing regulatory relief to prediction market operators and clearing organizations. By easing specific swap data reporting and recordkeeping obligations, the agency allows designated contract markets and clearing organizations to report event contracts directly to the CFTC rather than to swap data repositories. This move aims to reduce compliance burdens for platforms like Kalshi and Polymarket as the CFTC seeks to assert exclusive federal jurisdiction over these markets amidst ongoing legal battles with state gambling regulators.
(Source：Cointelegraph)