Crypto derivatives exchange Bitnomial receives CFTC approval to launch prediction market.
AI Summary1 min read
TL;DR
Bitnomial, a crypto derivatives exchange, has obtained CFTC approval to clear collateralized swap contracts, allowing it to launch prediction markets for cryptocurrencies and economic events, with its clearinghouse expanding services to partners.
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BitnomialCFTC approvalprediction marketcryptocurrency derivativesswap contracts
According to Mars Finance, cryptocurrency derivatives exchange Bitnomial has announced that it has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to clear fully collateralized swap contracts, enabling it to offer prediction market services, currently focused on cryptocurrencies and economic events. Furthermore, Bitnomial Clearinghouse, the exchange's clearing function, can provide a wider range of clearing services to partner prediction markets, thereby gaining collateralized liquidity between USD and cryptocurrencies.