US CFTC officially approves Bitnomial's prediction market launch

The U.S. Commodity Futures Trading Commission (CFTC) has officially approved the launch of a prediction market by derivatives exchange and clearinghouse Bitnomial, Cointelegraph reported. The approval was granted through a no-action letter, which exempts the service from complex reporting requirements. However, Bitnomial must publish trading data on its website and provide it to the CFTC immediately upon request. The commission had previously granted in-principle approval for the launch.