Bitnomial gains CFTC approval to launch prediction markets in the US

The US regulator's green light lets Bitnomial’s clearinghouse support prediction markets linked to crypto and economic events, expanding its regulated product and clearing offerings.

Bitnomial Clearinghouse LLC received approval from the US Commodity Futures Trading Commission (CFTC) to clear fully collateralized swaps, enabling its parent company, Bitnomial, to launch prediction markets and offer clearing services to other platforms.

According to Friday’s announcement, Bitnomial’s prediction market will cover crypto and economic events, alongside its existing Bitcoin (BTC) and crypto derivatives products. The contracts are designed to allow traders to take positions on outcomes, such as token price levels and macroeconomic data.

The approval expands the umbrella of the trading products offered by Bitnomial. Based in Chicago, the company’s exchange and clearing arms offer perpetuals, futures, options contracts and leveraged spot trading. The company’s clearinghouse also supports crypto-based margin and settlement, allowing approved products to be margined and settled directly in digital assets.

Read more