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

The Commodity Futures Trading Commission (CFTC) has withdrawn its outdated crypto delivery guidance as part of a broader effort to reform regulations surrounding digital assets. This decision reflects the need for updated frameworks that align with the evolving cryptocurrency market and its complexities.

The U.S. Commodity Futures Trading Commission (CFTC) has announced the withdrawal of its outdated crypto delivery guidance, signaling a shift towards more streamlined and relevant regulatory frameworks as the cryptocurrency market evolves. This decision reflects the agency's commitment to adapting its oversight in response to the rapidly changing digital asset landscape.

The U.S. Senate is approaching a final vote on the confirmation of key officials at the Commodity Futures Trading Commission (CFTC) and the Federal Deposit Insurance Corporation (FDIC), with the vote expected early next week. This follows a series of procedural steps that have characterized the lengthy confirmation process.

Senators are expected to vote on Michael Selig's nomination to lead the Commodity Futures Trading Commission (CFTC), which could result in the departure of acting Chair Caroline Pham. This vote is seen as a significant step in reshaping the leadership of the CFTC, an agency that plays a crucial role in regulating the derivatives markets, including cryptocurrency.

Gemini has received regulatory approval from the Commodity Futures Trading Commission (CFTC) to launch prediction markets in the United States through its subsidiary, Gemini Titan. This license allows US customers to engage in event contracts, which are simple yes/no bets on future events.

Gemini's stock surged in premarket trading following the approval of a license for prediction markets by the Commodity Futures Trading Commission (CFTC). This regulatory green light allows Gemini to expand its offerings in the U.S. market, potentially attracting more investors and diversifying its trading options.

The cryptocurrency market experienced a significant downturn following the Federal Reserve's third consecutive 25 basis point interest rate cut, which was anticipated by many. Despite initial price surges for Bitcoin, Ether, XRP, and Solana, the momentum quickly reversed, leading to notable declines in their values. Bitcoin fell over 5%, while Ether dropped more than 8.5% at one point.

Gemini has received approval from the Commodity Futures Trading Commission (CFTC) to offer prediction markets in the United States, resulting in a nearly 14% surge in its stock price. This regulatory green light allows the company to expand its services and engage U.S. customers through its subsidiary, Gemini Titan.