Source: CryptoNewsNet
Original Title: Bitnomial wins U.S. regulator’s nod on prediction markets push, joins growing crowd
Original Link:
Bitnomial can forge ahead with a prediction-markets service to U.S. customers after an approval issued on Thursday by the Commodity Futures Trading Commission.
The U.S. derivatives regulator posted a “no-action letter” that means the exchange is safe to proceed with its new offering — a prediction market with contracts focusing on how cryptocurrencies and the economy will fare. The letter specified that the swap contract will be “referencing digital assets, economic indicators and financial outcomes.”
The OK from the CFTC follows recent blessings for other prediction market ventures from DraftKings and Gemini. Polymarket, PredictIt and LedgerX also received no-action letters from the agency last month on their prediction market operations.
Bitnomial’s transaction on its registered exchange will be cleared through Bitnomial Clearinghouse, LLC.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Bitnomial wins U.S. regulator's nod on prediction markets push, joins growing crowd
Source: CryptoNewsNet Original Title: Bitnomial wins U.S. regulator’s nod on prediction markets push, joins growing crowd Original Link: Bitnomial can forge ahead with a prediction-markets service to U.S. customers after an approval issued on Thursday by the Commodity Futures Trading Commission.
The U.S. derivatives regulator posted a “no-action letter” that means the exchange is safe to proceed with its new offering — a prediction market with contracts focusing on how cryptocurrencies and the economy will fare. The letter specified that the swap contract will be “referencing digital assets, economic indicators and financial outcomes.”
The OK from the CFTC follows recent blessings for other prediction market ventures from DraftKings and Gemini. Polymarket, PredictIt and LedgerX also received no-action letters from the agency last month on their prediction market operations.
Bitnomial’s transaction on its registered exchange will be cleared through Bitnomial Clearinghouse, LLC.