Tracking the companies, deals, and infrastructure shaping US prediction markets. FCMs | IBs | DCMs | DCOs | Partnerships
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@OG_com (NADEX) asked the CFTC today to approve rules for perpetual single-stock futures: cash-settled, no expiry, 1-share contracts, 24/5 trading, and a funding rate paid between longs and shorts.
NADEX filed with the SEC 9/14 to register as an exchange for security futures, which under the Exchange Act is effective on filing.
CFTC filing:
cftc.gov/IndustryOversight/I…
SEC filing:
sec.gov/files/rules/other/20…
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Today DKeX (@DKPredictions) filed to end its combos market maker rebates and maker fee waiver, from Oct 7.
The stated reason: participating firms "would be profitable on Combination Contracts even before application of those incentives."
DKeX Submission #26-28
cftc.gov/IndustryOversight/I…
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Today CFTC staff defined "Mention Markets": will a named person say a word, show up, shake a hand. DMO staff may view them as presumptively readily susceptible to manipulation under Core Principle 3 and expect a heightened showing on materiality, scrutiny, insider controls. No. 26-27
cftc.gov/csl/26-27/download
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'@coinbase has a new DCO filing that hit the CFTC website today backdated to 11/14/2025.
Per the exhibits:
-Fully collateralized
-Would clear for DCMs and SEFs that agree to its rules
-Direct clearing access, plus FCM customers
cftc.gov/IndustryOversight/I…
This appears to be the application The Clearing Company filed in Nov 2025 (but never appeared on the CFTC site), pitched as a stablecoin-native clearinghouse for prediction markets. Coinbase announced the acquisition of the Clearing Company in December 2025.
The exhibits show it renamed and 100% under Coinbase Global. They name no products.
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New NFA filing: Hypestrat Markets LLC (NFA ID 0581525) filed as a pending Futures Commission Merchant on 9/14/26. Address is 477 Madison Ave 22F, NYC — same as Hyperliquid Strategies (@HyperliquidX ) HQ.
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Per an update from the NFA this morning, the social casino operator, @playongains, was approved for their Introducing Broker and Swap Firm registrations on 9/10. PMP has no tracked partnerships to FCMs/DCMs, but we would expect an announcement soon.
nfa.futures.org/BasicNet/bas…
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'@ProphetX appears to be expanding outside of sports: The CFTC website shows nine (9) political-related self-certifications have been submitted as of this morning. (Backdated to 9/2).
cftc.gov/IndustryOversight/I…
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The CFTC updated its DCO page this morning to reflect @Underdog's name ("Underdog Clearinghouse, Inc" vs "Aristotle DCO, Inc." previously).
cftc.gov/IndustryOversight/I…
The DCM still shows as Aristotle, but one would expect a similar change is in the works.
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Forum's (@forumdotmarket) DCO filing was listed on the CFTC website today backdated to August 3.
cftc.gov/IndustryOversight/I…
A new DCM applicant appeared this morning, per a CFTC update. ForumEx filed for a DCM (ForumEx LLC) on Friday (8/21). Per the rulebook, it appears a DCO application is forthcoming (Forum Clearing LLC).
Link to CFTC page: cftc.gov/IndustryOversight/I…
Link to rulebook: cftc.gov/filings/documents/2…
Link to information on the company behind it: ycombinator.com/companies/fo…
forum.market/
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'@blockchain (blockchain(.)com) filed for an FCM license this morning with the NFA.
nfa.futures.org/BasicNet/bas…
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A new DCM applicant appeared this morning, per a CFTC update. ForumEx filed for a DCM (ForumEx LLC) on Friday (8/21). Per the rulebook, it appears a DCO application is forthcoming (Forum Clearing LLC).
Link to CFTC page: cftc.gov/IndustryOversight/I…
Link to rulebook: cftc.gov/filings/documents/2…
Link to information on the company behind it: ycombinator.com/companies/fo…
forum.market/
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