Cryptocurrency derivatives exchange Bitnomial approved by CFTC to launch prediction markets

The cryptocurrency derivatives exchange Bitnomial has officially announced that it has received approval from the Commodity Futures Trading Commission (CFTC) to clear fully collateralized swap contracts, enabling it to offer prediction market services, which will currently focus on two main areas: cryptocurrencies and economic events.

In addition, the exchange's clearing function, Bitnomial Clearinghouse, can also provide a wider range of clearing services to partners' prediction markets, thereby gaining collateral liquidity between USD and cryptocurrencies.