Legal

Fliff and Onyx Odds file FCM registrations to enter CFTC-regulated prediction markets

Published Aug 13, 2026Updated 62d ago

Fliff and Onyx Odds have submitted Futures Commission Merchant (FCM) registrations to access federally regulated event contracts. The move shifts both platforms from sweepstakes models toward CFTC-regulated prediction markets. The filings follow a deal with Crypto.com that opened access to sports, political, crypto, and other event contracts through its regulated infrastructure. State crackdowns on sweepstakes sports betting have eroded the broad U.S. access that made that model attractive, driving operators toward federally regulated alternatives.

Why this matters?

For Fliff and Onyx Odds, FCM registration is a hard pivot away from a sweepstakes model under sustained state attack. The platforms are betting that federal CFTC status will shield them from the same gambling-law voiding risk that Novig is already fighting in five states. The Crypto.com infrastructure deal gives them a ready regulatory rail, but the path is crowded: Novig and ProphetX already cleared DCM designation, and Kalshi and Polymarket are bleeding legal resources defending sports contracts on multiple fronts.

If the CFTC or Congress narrows the gambling-odds window further, late entrants may find their federal umbrella has holes. The first FCM approval for a former sweepstakes operator would signal the channel is open; a rejection would strand platforms between dying sweepstakes models and a closing federal gate.

In this story
Add Prediction News as a preferred source on GoogleGet our prediction-market coverage prioritized in your search results

Related Stories

More in Legal
Legal

CFTC proposes swaps rules to classify event contracts under federal oversight

Legal

NFL urges Supreme Court to let states regulate prediction markets as gambling

Legal

Kalshi petitions full Sixth Circuit as NFL amicus deepens event-contract circuit split

Legal

Supreme Court holds off on prediction market preemption petitions as NFL weighs in

Legal

Blockchain.com files for CFTC licenses to enter US prediction markets and crypto derivatives

Trading

Kalshi retakes NFL pricing edge from FanDuel, DraftKings in Week 4