Polymarket unit gets US industry organization’s approval to be futures broker
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4 Articles
Polymarket unit gets US industry organization's approval to be futures broker
Polymarket has received approval from the National Futures Association for PM Derivatives LLC to act as a broker. This approval allows the company to expand its operations if it obtains further approval from the Commodity Futures Trading Commission. The firm is actively under investigation by the CFTC regarding its marketing practices. Currently, Polymarket serves as a popular platform for betting on various events and elections.
Polymarket unit gets US industry organization’s approval to be futures broker
NEW YORK, Nov 3 (Reuters) - Polymarket, the big US online prediction market, received the approval of a self-regulatory industry group for one of its units to become a broker, according to the company and the group, paving the way for the company to ...
Polymarket Gets NFA Approval for Fully Collateralised US Brokerage
Polymarket has received approval from the National Futures Association for its affiliated entity, PM Derivatives, LLC, to operate as a Futures Commission Merchant. The broker will operate on a fully collateralised basis, requiring customers to fund their positions in full at the time of each trade.London's trading industry is coming home!The approval comes amid continued regulatory scrutiny of prediction markets in the US. In August, the Commodi…
A Polymarket unit received approval from the National Futures Association to operate as a future commission trader, a step that brings the firm closer to intermediation in the United States. However, PM Derivatives still needs permission from the CFTC to act as a broker. The commission also examines Polymarket controls and advertising, according to recent coverage by DiarioBitcoin.
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