CFTC relaxes passive software registration requirements, allowing regulated market trading entry

The CFTC Market Participants Department has issued a non action stance to passive software providers, allowing eligible software providers to provide users with a regulated market trading entry without registering as an introduction broker. The applicable platform shall not host user assets or make trading decisions on behalf of users. This measure will expand the case arrangement for Phantom to eligible software providers. Phantom has partnered with Kalshi to provide predictive market trading entry to its 20 million wallet users. (Source: Bloomberg)