CFTC Gives No-Action Leeway to Polymarket, PredictIt, LedgerX Over Data Rules

The U.S. Commodity Futures Trading Commission (CFTC) issued no-action letters to the operators of prediction market platforms Polymarket, PredictIt, Gemini, and LedgerX/MIAX. This relief means the CFTC will not pursue enforcement actions related to specific swap-related recordkeeping requirements and the failure to report data associated with binary option transactions, provided the companies adhere to other specified conditions. These conditions include ensuring contracts are fully collateralized, clearing contracts only through their designated platform, publishing all executed contract data, and conforming to certain swap recording requirements. The CFTC noted these letters are comparable to those issued to other similarly situated designated contract markets and derivatives clearing organizations. This development is significant as prediction markets are a growing sector, with Polymarket and Gemini actively working on formal U.S. operations.

(Source：CoinDesk)