CFTC Drops Swap Reporting Duties for Prediction Market Operators Across the US

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The regulatory relief streamlines compliance for prediction market operators dealing with event contract data reporting requirements.

Interactive Brokers announced the launch of a unified prediction markets platform on Thursday, which integrates event contracts from Kalshi, CME Group, and its own affiliate exchange, ForecastEx. IBKR Aggregates Kalshi and CME for Professional Traders The Interactive Brokers (Nasdaq: IBKR) update introduces a single interface designed to consolidate these three liquidity pools. Eligible clients can […]

The post CFTC Issues No-Action Letter on Prediction Market Data Reporting appeared on BitcoinEthereumNews.com. The US Commodity Futures Trading Commission’s (CFTC) market and clearing divisions issued no-action relief for fully collateralized event contracts, easing certain swap data reporting and recordkeeping obligations for prediction market operators and clearing organizations. The divisions said Wednesday that they will not recommend enforcement against designated contract markets (DCMs), derivatives clearing organizations (DCOs), or their participants for failing to comply with specified swap-related recordkeeping requirements or for failing to report covered transactions to swap data repositories. Event contracts on prediction markets technically qualify as “swaps” as they are based on binary events. However, the letter argued that similar contracts are listed for trade by DCMs and have more similar characteristics to futures and options on futures, hence enabling firms to repor

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