A coated yam prepared by coating a polyolefin yam with a coating composition comprising a polyolefin resin and a flame retardant is provided, wherein the polyolefin is selected from the group consisting of a polyethylene resin, a polyethylene copolymer resin, a polypropylene resin and a polypropylene copolymer resin. The coated yam can readily be recycled to produce a coreless yam useful as a flooring material or other industrial materials, which improves the flame retardancy of conventional non-PVC coated yarns. A fabric woven from the coated yam is useful in the preparation of a blind, a flooring material, wall paper, household items and other interior elements.