CFTC Eases Reporting Rules for Four Prediction Markets Under No‑Action Letters

Overview

• The CFTC’s market oversight and clearing divisions issued no‑action letters on Dec. 11 that waive certain swap data reporting and recordkeeping obligations for event‑style contracts.
• Relief covers Polymarket US, LedgerX operating as MIAX Derivatives Exchange, Aristotle Exchange for PredictIt, and Gemini’s Gemini Titan platform.
• Conditions require full collateralization of positions, prompt publication of time‑and‑sales data after execution, and adherence to specified swap recording standards.
• For Polymarket US and LedgerX, the letters lift prior limits on futures commission merchant intermediation, allowing registered brokers to clear customer positions.
• The agency stressed the relief is narrow, supervisory, and subject to change or withdrawal, reflecting closer oversight as prediction‑market volumes expand.