PANews reported on December 12th that, according to CoinDesk, the U.S. Commodity Futures Trading Commission (CFTC) issued no-action letters on Thursday to the operators of prediction market platforms Polymarket, PredictIt, Gemini, and LedgerX/MIAX, announcing that these companies are not required to comply with certain record-keeping requirements as long as they meet other specific requirements, and that these companies may be able to clear contracts through third-party clearing members. In a press release, the CFTC stated that the no-action letters mean that the regulator will not take any enforcement action (i.e., will not bring lawsuits against these companies for violations) regarding their compliance with "certain record-keeping requirements related to swap transactions and failure to report data related to binary options trading to swap data repositories."

The CFTC stated, "No-action letters apply only to specific circumstances and are similar to those issued to designated contract markets and derivatives clearing organizations in other similar situations." Under a no-action letter, the issuer must: ensure that its contracts are adequately collateralized at all times; clear contracts only through its designated platform; publish all relevant data on its platform after contract execution; and comply with other specific swap transaction record requirements.