Crypto derivatives exchange Bitnomial receives CFTC approval to launch prediction market

Crypto derivatives exchange Bitnomial has 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 its partners' prediction markets, thereby gaining collateral liquidity between the U.S. dollar and cryptocurrencies.