River Markets affiliate completes CFTC futures commission merchant registration, aims to build prime brokerage platform for prediction markets

Odaily reports: Prediction market broker River Markets stated that its affiliate River Finance LLC has registered with the U.S. Commodity Futures Trading Commission as a futures commission merchant and joined the National Futures Association, enabling it to carry customer accounts and handle customer funds. River Markets is building a prime brokerage platform for prediction markets, planning to allow institutional traders to manage funds, positions, and risk across multiple trading platforms and clearinghouses through a single account, and intends to support financing arrangements and permitted over-the-counter trading.

Oscar Levy, co-founder and CEO of River Markets, said in a statement that gaining access to event contracts alone is not enough—institutions entering this market need to deploy capital efficiently around the clock and manage risk across trading platforms. Founded in May of this year, the company serves hedge funds, sports funds, proprietary trading firms, and event risk hedging enterprises. River Markets said it has routed over 250 million contracts and has secured backing from top-tier venture capital firms after completing an $8.5 million seed round.