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Cryptocurrency derivatives exchange Bitnomial receives CFTC approval to launch prediction markets
Golden Finance reports that the 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, this service will focus on two main areas: cryptocurrencies and economic events. In addition, the exchange’s clearinghouse, Bitnomial Clearinghouse, can also provide broader categories of clearing services to partner prediction markets, thereby gaining collateral liquidity between USD and cryptocurrencies.