Bitnomial Wins CFTC No-Action Relief for Crypto Prediction Markets
Bitnomial has secured a pivotal no-action letter from the CFTC, clearing its path to operate prediction markets for crypto derivatives without facing enforcement actions. The Chicago-based firm now joins a select group of platforms granted regulatory flexibility for innovative financial products.
Company executives hailed the decision as transformative, citing plans for global expansion. The relief exempts Bitnomial from burdensome swap reporting requirements—a critical advantage for fast-moving prediction markets where high-frequency contracts WOULD otherwise trigger compliance overhead.
Conditions apply: Bitnomial must disclose granular trading data on its platform and maintain readiness to furnish details to regulators upon request. This includes real-time timestamps and sales metrics for contract markets.
