Prediction markets get CFTC relief as legal battles widen

The rise in scams impersonating CFTC officials highlights the urgent need for increased public awareness and stronger cybersecurity measures. The post CFTC warns of rising scams impersonating its officials appeared first on Crypto Briefing.

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

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

The Commodity Futures Trading Commission (CFTC) issued a blanket no-action letter this week, relieving prediction market operators from swap data reporting and recordkeeping obligations tied to fully collateralized event contracts. CFTC Issues Blanket No-Action Letter Cutting SDR Reporting for Event Contracts The CFTC‘s Division of Market Oversight and Division of Clearing and Risk jointly announced […]

The CFTC issued no-action relief from certain swap reporting rules for fully collateralized event contracts as prediction market disputes widen.

In Kalshi’s legal battle with Ohio, the US Commodity Futures Trading Commission has lent its support, requesting that an appeals court confirm that the commission has authority over prediction markets. On Tuesday, the CFTC submitted an amicus brief to the Sixth Circuit Court of Appeals, accusing Ohio of engaging in

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The post Kalshi gets CFTC support in Ohio sports market appeal appeared on BitcoinEthereumNews.com. The Commodity Futures Trading Commission has backed Kalshi in its appeal against Ohio regulators, asking the U.S. Court of Appeals for the Sixth Circuit to affirm federal oversight of prediction markets.  Summary CFTC says Ohio went too far by treating Kalshi’s federally regulated event contracts as sports gambling. The Ohio appeal adds to wider state battles over Kalshi, Polymarket, Crypto.com, Coinbase, and Robinhood. Trump-appointed CFTC Chair Michael Selig says the agency will defend its authority over prediction markets. The agency filed an amicus brief in KalshiEx LLC v. Matthew T. Schuler, et al., on May 12. The case centers on whether Ohio can treat Kalshi’s sports event contracts as unlicensed sports gambling.  State authorities had told the company to stop offering those markets in Ohio. Kalshi sued, but a federal district court denied its request for protection in March. The c