Sleeper Markets
Fantasy-sports platform that sued the CFTC over a stalled FCM review and now distributes Kalshi contracts.
Regulatory posture
- Sleeper Markets LLC holds NFA membership, swap-firm and FCM status, granted January 9, 2026 after a review that ran from May 2025.
- One of the few FCM applications in the sector to become contested: Sleeper sued the CFTC in September 2025 alleging its review was improperly stalled, then dropped the suit when approval came through.
- Launched Kalshi-powered prediction markets under the Team Picks brand ahead of the February 2026 Super Bowl.
- Distributes rather than operates a venue, so it holds no DCM or DCO designation.
Licensing
- FCM
- Approved (Sleeper Markets LLC, NFA, January 9, 2026)
- DCM
- N/A — distributes Kalshi contracts
- State coverage
- No state action against the prediction-market business recorded on this tracker
Filings on the tracker (1)
Licensing Tracker- FCMSleeper Markets LLC (Sleeper)ApprovedJan 9, 2026
Products
Development timeline
Dated developments compiled for this operator, newest first. Select an entry for the full detail.
- February 6, 2026
Launched Kalshi-powered prediction markets under the Team Picks brand before the Super Bowl
- January 9, 2026
NFA approved FCM and swap-firm status; Sleeper dropped its suit against the CFTC
- September 30, 2025
Sued the CFTC in federal court over a stalled review of its FCM application
Regulatory history
No enforcement actions matching this operator by name.
Recent activity
No recent regulatory activity tagged to this operator.
Sia Insights
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