CFTC Approves Bitnomial to Launch Cryptocurrency Prediction Markets

Bitnomial's CFTC Approval: Bitnomial Clearinghouse LLC has received approval from the CFTC to clear fully collateralized swaps, allowing it to offer clearing services and operate prediction markets focused on the crypto industry and economic events.

Expansion of Trading Products: The approval will diversify Bitnomial's trading offerings, which currently include perpetuals, futures, options contracts, and leveraged spot trading, while also enabling margin and settlement in cryptocurrencies.

Growth of Prediction Markets: The CFTC's decision reflects the rising popularity of prediction markets in the crypto sector, with platforms like Kalshi and Polymarket reporting significant trading volumes.

Polymarket's Developments: Polymarket, which recently gained CFTC approval to operate an intermediated trading platform, has formed partnerships with notable organizations and utilizes the USDC stablecoin for contract finalization on the Polygon blockchain.