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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The Commodity Futures Trading Commission issued its initial proposed rulemaking on prediction markets Wednesday. The rules aim to clarify which event contracts qualify as being in the public interest under federal law.
The Commodity Futures Trading Commission and Securities and Exchange Commission opened a public comment period on June 18 to define swaps, mixed swaps, and event contracts. The process will shape oversight of crypto perpetual futures and prediction markets.
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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.
U.S. President Donald Trump called it critically important for the CFTC to retain exclusive authority over prediction markets in a Truth Social post late Tuesday afternoon.
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SEC Chair Paul Atkins proposed a limited innovation pathway for on-chain trading systems during a May 8 speech. The approach draws from the agency's 1990s handling of electronic markets and aims to provide conditional access before permanent rules are set.
The U.S. Senate has passed a resolution prohibiting senators and their staff from using prediction markets. S. Res. 708 took effect immediately upon passage.
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Representative Bryan Steil introduced legislation to prevent members of Congress from wagering on prediction markets tied to public policy issues.