CFTC gives prediction markets leeway on data and record-keeping rules
The CFTC gave “no-action” letters to a group of prediction markets, including Polymarket US, exempting them from swap data reporting and record-keeping regulations.
The Commodity Futures Trading Commission has issued “no-action” letters to a group of prediction markets, exempting them from requirements related to swap data reporting and record-keeping regulations.
The CFTC’s Division of Market Oversight and the Division of Clearing and Risk won’t initiate enforcement action against several prediction market platforms for shirking certain recordkeeping demands, provided they follow other specific requirements, the agencies said in a statement on Thursday.
“The no-action letters apply only in narrow circumstances and are comparable to no-action letters issued for other similarly situated designated contract markets and derivatives clearing organizations,” they added.
