Kalshi has signed a sponsorship deal with Argentina’s football federation (AFA) to serve as an official sponsor of the national team during the FIFA World Cup 2026.
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CFTC grants ProphetX approval to operate a prediction market
The Commodity Futures Trading Commission (CFTC) has granted permission to ProphetX to operate a prediction market, making it the first sports-native prediction platform in the United States.
According to the CFTC’s approval, ProphetX will be allowed to operate both as a Designated Contract Maker (DCM) and a Derivatives Clearing Organization (DCO). ProphetX, which was previously known as Prophet Exchange, was initially a state-licensed sports betting operator, which later restructured into a sweepstakes exchange and has now entered the predictions segment.
ProphetX CEO and co-founder, Dean Sisun, stated:
“This approval positions ProphetX to become the first sports-native direct-clearing prediction market in the United States. We can now expand our best-in-class sports event market offerings to millions of Americans across the country while competing on a level regulatory playing field.”
As the company has received both a DCM and a DCO license, it will get to directly clear transactions without the help of a third-party clearing house. Additionally, the platform will launch a Request for Quote (RFQ) Parlay Mechanism, which will give users the chance to create and price parlay-style combinations with other players.
Sisun further added:
“ProphetX applauds CFTC Chairman Selig for his leadership in bringing regulatory certainty to America’s prediction market ecosystem.”
It was also revealed that the platform will temporarily be disabled in order to transfer its system from a sweepstakes-based model to a sports prediction market. With all user accounts automatically transferring to the new platform, trading will reopen when the restructure is completed.
On June 10, the Commodity Futures Trading Commission (CFTC) published its first proposal for establishing a clear framework for prediction market rules as the sector...
