New CFTC DCM applicant: 365Prediction, LLC .
Founder/CEO @DrMintas (ex-Sportradar Deputy President, ex-PlayUp USA CEO).
Parent: Powerhouse Prediction Ventures (f/k/a MH Venture Group).
Separate clearinghouse named in the rulebook: Next Gen Clearing, LLC not yet in CFTC's pending DCO list.
https://t.co/iSRItNrzzE
New CFTC filing: Eventive IV, LLC has applied for full DCO (clearinghouse) registration, pending as of May 1.
It's the clearing half of Rush Street Interactive's (@RSInteractive_ ) prediction-market stack:
Eventive III, LLC → the DCM
Eventive IV, LLC → the DCO
https://t.co/9a7pUj44BT
@RTFSnews (RealTime Fantasy Sports) appears to be gearing up for a predictions offering filing for an IB license today with the NFA.
https://t.co/W3NkP02q8b
A pattern we're noticing with recent NFA filings: Companies filing for an IB license and including a guarantee agreement (“IB Guarantor”) with an FCM.
→ NinjaTrader Clearing: Guarantor for Onyx Predictions (approved); Tradeify/dba Slay Markets (approved)
→ Foris DAX FCM (Crypto(.)com's FCM): Guarantor for Hollywood(.)com (pending)
In short, by entering into an agreement with the FCM that carries its accounts, the IB minimizes the requirements it holds with the CFTC. By entering a guarantee agreement with the FCM that carries its accounts, an IB is no longer subject to the minimum net-capital requirements and NFA financial reporting on its own. Inherently, the FCM takes on additional risk/liability. Read more about Guaranteed IB requirements here:
https://t.co/9zVR7Uqbez
We expect this trend to continue as more smaller companies (most of which have other prioritized business lines) enter the regulated event contract/PM space.
ICE Derivatives Execution Services LLC filed for a FCM license with the NFA today.
Comes 3 weeks after the CFTC registered ICE Direct Clear, Inc. as a DCO for fully collateralized futures, options & swaps.
https://t.co/IAlH0Ys0Ip
It appears that there have been some notable NFA principal changes today at Gus III LLC (DraftKings Predictions IB/FCM). Worth noting R. Stanton Dodge and Paul Lieberman are part of the original core DraftKings team (DFS, Sportsbook, iCasino).
Removed:
• Jeanine Hightower-Sellitto — President, CEO
• Paul Liberman — Manager - LLC or LLP
• Alan Ellingson — Director, CFO, Manager
• Robert Stanton Dodge — no listed title
Added/Changed:
• Shanan Omara — CCO → CEO
• Andrew Jones — new CCO
https://t.co/9FyvQknCT0
A few NFA filing updates:
Rails Markets, Inc - Approved Introducing Broker + NFA Member - believed to be https://t.co/MkelUcGhO8 - per Rails' LinkedIn page, "a perpetual trading platform that seamlessly integrates centralized order processing with on-chain custody." Timely with CFTC's recent approval of 'perps'...
https://t.co/a2B4HzBbgA
AXI Technologies US LLC; dba ODDSON- Filed for Introducing Broker + NFA membership - believed to be https://t.co/81S6QlU3sY, an international trading platform founded in 2007.
https://t.co/T1woobUMxW
@datadashboards@_helmass We noticed Kalshi mentioned on Underdog Predict's help page on April 8th. The exact date that it appeared is uncertain. A formal announcement doesn't exist to our knowledge.
https://t.co/Uv7FqQOY0l
@Underdog Predictions now offers markets powered by @kalshi alongside its existing CDNA (@cryptocom) markets. Underdog Predict manages accounts under its FCM (UDM LLC) for access to Kalshi markets, while markets offered by CDNA continue to use Foris DAX as the FCM.
Source: https://t.co/ItHMcRPJeZ
As an update to the above, filing documents have now been added to the CFTC page. Based on the rulebook, it appears that a forthcoming DCO application should be expected (Eventive IV, LLC).
A new DCM applicant just was posted to the CFTC's website - Eventive III, LLC - filed May 20. Application documents haven't populated the public page yet.
https://t.co/5VzmV7xktk
@DraftKings' DCM, Railbird Exchange, LLC, d/b/a DKeX, just filed its first product certifications with the CFTC.
6 binary option templates in the "Event" category — GAMEWIN, GAMESPREAD, GAMEPROPERTY, ENTITYSTAT, ENTITYOUTPERFORM, ENTITYACHIEVEMENT.
Template-style filing (not per-event) means any new individual contracts can list under each.
https://t.co/dVrmt3O9bA