TechFlow, Dec 12 — According to CoinDesk, the U.S. Commodity Futures Trading Commission (CFTC) has issued no-action letters to prediction market platforms Polymarket, Predictit, Gemini, and LedgerX/MIAX, allowing these companies to bypass certain recordkeeping requirements as long as they meet other specified conditions.
In a press release, the CFTC stated that the no-action letters mean the regulator will not take enforcement action regarding how these firms comply with "certain swap-related recordkeeping requirements and failure to report data related to binary options trading to a swap data repository."
Under the no-action relief, issuers must ensure their contracts are fully collateralized at all times, clear contracts only through their designated platforms, publish all contract-related data on their platforms after execution, and meet certain swap recordkeeping requirements.
