Cataclysmic Variables (CV) are close binary systems, in which the primary, the more massive star, is a white dwarf. CVs usually exhibit a number of periodicities, most of which are now understood. However, recently, a new phenomenon was discovered that does not fit the standard picture. Two objects have been discovered to show periods that are much longer than orbital, and have no relation to it, either in light curves or in radial velocity (RV) variations measured from spectroscopy. Here, we show that the precession of the fast rotating magnetically accreting white dwarf can successfully explain these phenomena. The theory of compact objects predicts certain relations between the spin and precession periods, and our finding provides a good test for the theory and establishes a qualitative model to be explored both theoretically and observationally. Detection of precession can become a powerful tool in searching for the internal properties of compact stars, which would be otherwise inaccessible for us.