The American division of Binance and Blockchain com have approached the U.S. Commodity Futures Trading Commission (CFTC) for approval to offer regulated prediction markets and related derivatives to American clients. This move reflects the crypto companies' desire to expand beyond digital assets amid a prolonged market downturn.
Blockchain com has submitted applications to the CFTC for Designated Contract Market (DCM) licenses, allowing it to operate as a regulated futures exchange, and Futures Commission Merchant (FCM) licenses, enabling it to act as a derivatives broker. If approved, the company will be able to list event contracts, allowing users to bet on outcomes in sports, politics, or economics, alongside crypto derivatives, including futures and options, for retail and institutional clients in the U.S. Currently, Blockchain com already offers prediction markets through a partnership with Polymarket, as well as perpetual futures based on Hyperliquid for international users. CEO and co-founder Peter Smith stated that users should be able to manage digital assets, trade derivatives, and bet on real-world events without switching between different applications. Additionally, Blockchain com is preparing for an initial public offering: the company has confidentially filed documents with the SEC and is aiming for a valuation of $4-6 billion.
Binance US, operated by BAM Trading Services, a subsidiary of the world's largest crypto exchange Binance, has also joined the race for prediction markets. This is part of broader efforts to recover from years of regulatory and legal setbacks that have sharply reduced its share of the U.S. market. Previously, CEO Stephen Gregory confirmed that in August, Binance US plans to apply for a DCM license from the CFTC to offer prediction markets, futures, and options. As reported by the Financial Times on October 21, both companies have applied to offer such products as platforms seek to diversify revenue amid a prolonged crypto market downturn. Trading volumes on Kalshi and Polymarket grew from $17 billion in January to $72 billion in September 2026.
Binance US is also seeking up to $100 million in funding at a valuation of around $1 billion to support expansion. The company plans to restore state money transmitter licenses and offer other products beyond spot trading. The firm emphasizes lower fees and becoming a more versatile platform.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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