Cryptocurrency exchange BitMart is launching one of the first regulated prediction markets in the U.S.
Privately held BitMart is offering its customers a prediction market that’s regulated by the federal Commodity Futures Trading Commission (CFTC).
The exchange says that users will have access to 405 live event markets that cover sports, economics, politics and cryptocurrencies.
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The launch gives investors a regulated way to bet on the outcome of real-world events across finance, economics, sports and more, as well as short-term price movements in crypto.
BitMart becomes one of only a few U.S. prediction markets that are fully compliant under CFTC regulations and guidelines.
“At BitMart, our mission has always been to make trading more accessible — lowering the barriers that have historically kept everyday investors on the sidelines,” said the company in a written statement.
While there are many prediction markets available in the U.S., most are unregulated. Jurisdiction and regulation over prediction markets continues to be debated.
While the CFTC claims to have jurisdiction over prediction markets, several U.S. states have launched lawsuits claiming that they have jurisdiction.
Several states have accused prediction markets such as Kalshi and Polymarket of operating unlicensed gambling operations.
BitMart’s stock does not trade on a public exchange.
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