Crypto derivatives exchange Bitnomial receives CFTC approval to launch prediction market

Odaily Planet Daily reports that crypto derivatives exchange Bitnomial has officially announced that it has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to clear fully collateralized swap contracts, enabling it to offer prediction market services. Currently, the service will 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 partner prediction markets, thereby gaining collateral liquidity between the U.S. dollar and cryptocurrencies.