River Markets’ affiliate registers as a US futures broker for prediction markets

River Markets said on 9 November that its affiliate, River Finance LLC, had registered with the Commodity Futures Trading Commission as a futures commission merchant and joined the National Futures Association. The company’s announcement says registration gives the affiliate the basis to carry customer accounts and handle client funds.

River’s existing software lets institutional desks route orders and track positions across prediction markets. According to River’s platform FAQ, clients connect their own exchange accounts and keep funds at each venue. The execution platform supports Kalshi, Polymarket’s international platform, Polymarket US, Crypto.com and Novig.

One account for funding trades across exchanges

River is building a brokerage that would let a desk use a common pool of capital across supported venues and clearinghouses. A desk trading on several exchanges currently has to keep enough cash or collateral in each account. The brokerage would aim to let it put that capital to work where it is needed as markets move.

River says it plans to work with external capital providers on financing for eligible market-making and hedging clients. It also plans to support permitted over-the-counter trades. Its announcement gives no confirmed date for onboarding, names no launch venues for the brokerage and sets out no collateral or netting terms.

In October, Crypto.com and OG.com signed a memorandum with River to expand institutional access. River previously raised an $8.5 million seed round to build its trading and risk infrastructure.