The U.S. Commodity Futures Trading Commission (CFTC) has adopted a decision to ease reporting and record-keeping requirements for fully collateralized event contracts. These changes aim to reduce the administrative burden for prediction market operators and clearing organizations. This is reported by Cointelegraph.com reports .
Under the new rule, the CFTC has simplified reporting procedures for certain operations carried out by Designated Contract Markets (DCMs) and Derivatives Clearing Organizations (DCOs). These platforms can now submit data directly to the commission. The list includes 19 platforms such as Polymarket, Kalshi, and Gemini Titan.
This decision comes amid conflicts between federal and state-level authorities over jurisdiction regarding the oversight of prediction markets. The CFTC is involved in legal proceedings with states like Ohio, Wisconsin, and New York to defend its authority.
While state regulators view prediction markets as gambling, the CFTC advocates for regulating them as derivatives. Venture funds like a16z argue that state restrictions contradict federal law and hinder market development.
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