The Commodity Futures Trading Commission has issued a no-action letter providing regulatory relief to prediction market operators. The measure eases compliance with swap data reporting rules for fully collateralized event contracts.
The no-action letter grants designated contract markets, clearinghouses and participants relief from certain swap recordkeeping and data reporting requirements. It applies specifically to fully collateralized event contracts traded on prediction markets.
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Prediction market platform Polymarket has partnered with blockchain analytics firm Chainalysis to monitor trading activity and detect potential insider trading. The collaboration introduces onchain tools to flag suspicious patterns amid rising regulatory scrutiny. Polymarket announced the move on Thursday.
Venture capital firm a16z has filed an 18-page letter backing the Commodity Futures Trading Commission in its disputes with states over prediction markets. The firm argues that federal law preempts state regulations on platforms like Kalshi and Polymarket. It claims state crackdowns undermine the CFTC's mandate for impartial market access.
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The U.S. Securities and Exchange Commission has extended its review period for exchange-traded funds tied to prediction markets. These ETFs from Roundhill, Bitwise, and GraniteShares track odds on political races and economic indicators. The agency is seeking further clarity on their structure and disclosures.
In the latest on the stalled Digital Asset Market Clarity Act, former CFTC Chair Christopher Giancarlo argues banks require regulatory clarity more urgently than crypto companies for digital payments. The bill remains deadlocked over stablecoin rewards after missing a March 1 White House deadline, amid banks' fears of capital flight.
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The US Senate Banking Committee voted 15 to 9 on May 14 to advance the Digital Asset Market Clarity Act. The bill now heads to the full Senate floor for further consideration.