Tracking the companies, deals, and infrastructure shaping US prediction markets. FCMs | IBs | DCMs | DCOs | Partnerships
Philadelphia, PA
Joined March 2026
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CFTC has registered TLD Clearing, Inc. (@Backpack) (d/b/a Backpack Clearing) as a DCO, by Commission order dated today. The application was filed 3/27.
It can clear margined futures, plus fully collateralized futures, options on futures and swaps.
Its sister exchange, TLD Markets (DCM app filed 4/22), is still pending. So the clearing side is approved before the exchange.
cftc.gov/IndustryOversight/I…
'@Polymarket US filed an emergency rule today (PMX-2026-72): Michigan residents are liquidation-only in sports contracts, and any positions still open face mandatory close-out by EOD Nov 25. Trigger: an Oct 26 stipulation with Michigan's AG and Gaming Control Board in federal court. Eight days after the CFTC called state-based access limits inconsistent with the CEA.
cftc.gov/filings/orgrules/ru…
Posted today on the CFTC site (but dated 11/10), @Underdog (Exchange) self-certified a “flex” combo template (ENTITYCOMBOFLEX). The first example submitted in conjunction with the template is on the Knicks game tomorrow night: will at least 4 of 5 Knicks player props hit (Brunson o25.5 pts, KAT o10.5 rebs, Josh Hart o5.5 rebounds; Mikal Bridges o9.5 points; OG Anunoby o14.5 points)?
Essentially, UD's Pick’em Flex as an exchange contract. Payment, trading, and settlement details in the screenshots.
cftc.gov/IndustryOversight/I…
cftc.gov/filings/ptc/ptc1110…
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The CFTC designated tZERO DCM, LLC (@tZERO) as the latest exchange today.
Per order + application:
• Anonymous central limit order book
• Fully collateralized, cleared by affiliate tZERO DCO (registered 10/16)
• Non-intermediated: no FCMs unless order amended
cftc.gov/IndustryOversight/I…
One of the fastest FCM approvals in recent memory: River Finance LLC (@river_markets) went from application (7/18) to registered FCM + NFA member (11/5) in 110 days.
nfa.futures.org/BasicNet/bas…
New CFTC filing: PredictIt Exchange DCM, Inc. (Delaware, formed Aug 31, 2026) has applied to be a designated contract market - backdated to 9/24/2026. Joint rulebook with an affiliated clearinghouse, PredictIt Exchange DCO (expected to be forthcoming). Direct retail access, no brokers, fully collateralized. Status: pending.
Based on Exhibit L-1 filing, it appears directly affiliated with @PredictIt, founded by John Aristotle Phillips, who recently sold Aristotle Exchange to @Underdog. Per Core Principle 7 within the L-1 filing, the web page address is subject to change, but the Exchange has procured Exchange.PredictIt.com as its likely URL.
New CFTC filing: New Derivatives Markets LLC (NYC, formed May 2026) applied to become a designated contract market. Draft rulebook: 24/7/365 trading, perpetual futures, cash settlement, and a planned clearinghouse, New Clearing Organization LLC.
cftc.gov/IndustryOversight/I…
The CFTC has designated XV Exchange (@stx_app ), LLC as a Designated Contract Market (Nov 3, 2026).
This comes days after its clearinghouse, XV Clearing, was registered as a DCO (Oct 29).
cftc.gov/IndustryOversight/I…
Sporttrade (@sporttrade_app) is now a CFTC-designated contract market, shortly after its DCO registration was approved.
cftc.gov/IndustryOversight/I…
'@Polymarket affiliated PM Derivatives LLC is now a registered FCM and approved NFA member and swap firm, effective Oct. 30. @shayne_coplan is listed as an indirect owner.
nfa.futures.org/BasicNet/bas…
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