An affiliate of River Markets has secured registration as a Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC), and plans to launch a prime brokerage platform for prediction markets.

According to a report from The Block, prediction market broker River Markets announced that its affiliate River Finance LLC has registered as a Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC) and joined the National Futures Association (NFA), enabling it to hold client accounts and process client funds. The firm is building a prime brokerage platform for prediction markets, designed to let institutional traders manage capital, positions, and risk across multiple trading platforms and clearinghouses via a single account, with plans to support financing arrangements and approved over-the-counter (OTC) trades. Oscar Levy, co-founder and chief executive of River Markets, stated in a release that access to event contracts alone is insufficient: institutions entering this market need to deploy capital efficiently around the clock and manage risk across trading platforms, which is exactly the brokerage model the company is developing. Founded in May this year, River Markets serves clients including hedge funds, sports funds, proprietary trading firms, and event risk hedging enterprises. The company says it has routed over 250 million contracts and secured backing from top-tier venture capital firms after closing an $8.5 million seed round. The Block also reported that combined trading volume for Kalshi, Polymarket’s U.S. platform, and Polymarket’s international platform exceeded $500 billion in October.