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Stock impact report

Bitnomial wins U.S. regulator's nod on prediction markets push, joins growing crowd [Yahoo! Finance]

DraftKings Inc. - Class A (DKNG) 
Company Research Source: Yahoo! Finance
The U.S. derivatives regulator posted a "no-action letter" that means the exchange is safe to proceed with its new offering — a prediction market with contracts focusing on how cryptocurrencies and the economy will fare. The letter specified that the swap contract will be “referencing digital assets, economic indicators and financial outcomes.” The OK from the CFTC follows recent blessings for other prediction market ventures from DraftKings and Gemini . Polymarket, PredictIt and LedgerX also received no-action letters from the agency last month on their prediction market operations. Bitnomial's transaction on its registered exchange will be cleared through Bitnomial Clearinghouse, LLC. "Participants will gain exposure to outcomes ranging from token price movements to macroeconomic indicators, with full integration across Bitnomial's product suite enabling traders to more specifically offset risk," the company had said in a release announcing the new business last month. Bitn Show less Read more
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