CFTC gives prediction markets leeway on data and record-keeping rules
NeutralCryptocurrency
- The Commodity Futures Trading Commission (CFTC) has issued 'no-action' letters to several prediction markets, including Polymarket US, allowing them to bypass certain swap data reporting and record-keeping regulations. This decision provides these platforms with greater operational flexibility under federal regulations.
- This development is significant for Polymarket as it enables the platform to operate more freely within the U.S. market, facilitating its recent launch of a U.S.-focused app. The approval marks a crucial step in re-establishing its presence in a competitive landscape.
- The CFTC's decision reflects a broader trend towards regulatory adaptation in the cryptocurrency sector, where agencies are increasingly recognizing the need for flexible frameworks that support innovation while ensuring compliance. This move may influence other platforms and regulatory bodies as they navigate the evolving digital asset landscape.
— via World Pulse Now AI Editorial System
