CFTC issues May 14, 2026 no-action relief easing event-contract reporting for prediction markets

On May 14, 2026, the U.S. Commodity Futures Trading Commission issued a blanket no-action letter that relaxes certain swap data reporting and recordkeeping duties for firms offering prediction-market event contracts. The relief applies to designated contract markets and clearinghouses tied to products linked to sports, politics, and economic events, and covers 19 entities including Kalshi, Polymarket, Gemini, and Bitnomial. The agency said the approach lets some event contracts be reported through futures- and options-style systems rather than swap frameworks, as legal disputes with states over whether sports-related contracts are gambling continue.