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ProphetX seeks CFTC registration for sports event contracts

Licences & markets

ProphetX has applied to the Commodity Futures Trading Commission for registration as a Designated Contract Market and Derivatives Clearing Organization to offer sports event contracts. The company said it expects the review to continue into 2026; approval would permit it to operate a single-platform contract market nationwide.

CFTC approval would determine whether ProphetX can offer sports event contracts nationwide under the proposed registrations.

Earlier licence decisions by Commodity Futures Trading Commission and CFTC

DateCompanyAmountStoryAppeal status
Gemini, KalshiNot statedGemini plans prediction contracts pending CFTC exchange approvalNot stated
Gemini Space StationNot statedGemini reportedly considers prediction markets as CFTC application remains pendingNot stated
Polymarket, QCXNot statedPolymarket plans US return by late November with sports focusNot stated
Railbird Exchange, QC ClearingNot statedCFTC approves Railbird Exchange as a designated contract marketNot stated

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Regulation

CFTC proposes swap classification for sports and political event contracts

The CFTC proposed rule changes on 9 October to classify sports, political, cultural and weather event contracts as swaps under US federal law. The proposal would explicitly include these contracts in the agency’s rules.

The Commodity Futures Trading Commission (CFTC) has proposed amending its rules so that event contracts based on sports, politics, culture and weather are explicitly included in the definition of a swap under federal law. The proposal was announced on 9 October, according to the regulator, and a public consultation has been opened before the agency decides whether to adopt the change.

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