TLDR
- Binance US and Blockchain.com have both applied to the CFTC to offer regulated prediction markets to US customers.
- Blockchain.com is also seeking a Futures Commission Merchant license and is preparing for an IPO at a $4 billion to $6 billion valuation.
- Prediction market volumes on Kalshi and Polymarket rose from $17 billion in January to $72 billion in September.
- Bitcoin is down 28% and ether is down 42% over the past year, while spot crypto trading volumes fell 18%.
- Several US states are challenging prediction markets under gambling laws.
Binance US and Blockchain.com are asking the US Commodity Futures Trading Commission (CFTC) for approval to offer regulated prediction markets. Both firms want to serve US customers.
🇺🇸 Blockchain. com and Binance US applied to offer prediction markets in the US, as they look to diversify revenue streams amid an extended market downturn. 👀 pic.twitter.com/JaxOoJMFR8
— Crypto Crib (@Crypto_Crib_) October 21, 2026
The filings come as crypto companies look for ways to earn money beyond token trading. Prices and trading volumes for digital assets have both dropped over the past year.
Blockchain.com applied for two licenses. One is a Designated Contract Market license, which would let it run a regulated futures exchange.
The other is a Futures Commission Merchant license. This would let the company act as a broker for derivatives contracts.
If approved, Blockchain.com could list event contracts. These let users take positions on sports, politics, or economic events. It could also offer crypto futures and options to retail and institutional customers in the US.
The company already offers prediction markets to eligible international users through a partnership with Polymarket. It also offers perpetual futures powered by Hyperliquid.
Co-founder and CEO Peter Smith said users should be able to manage digital assets, trade derivatives, and take positions on real-world events without switching between apps.
Binance US Works to Rebuild
Binance US is run by BAM Trading Services and is a subsidiary of Binance. Years of legal and regulatory problems cut its share of the US market sharply.
CEO Stephen Gregory said earlier that the company planned to apply for a CFTC license in August. It wants to offer prediction markets, futures, and options.
The company is also seeking up to $100 million in funding at a valuation of about $1 billion. It plans to restore state money-transmitter licenses and add products beyond spot trading. It says it will focus on lower fees.
Industry Pressure and Legal Hurdles
The Financial Times reported on October 21 that crypto exchanges are moving into prediction markets as trading declines. Coinbase, Crypto.com, Gemini, and Bullish have also targeted the sector.
Coinbase partnered with Kalshi earlier this year. Crypto.com spun out its prediction market business, OG.com, last month. It sold stakes in both companies to Robinhood as part of a partnership.
Trading volumes on Polymarket and Kalshi rose more than 300%, from $17 billion in January to $72 billion in September, according to The Block. Spot crypto volumes fell 18% in the same period.
Shares of listed exchanges have also dropped. Coinbase and Bullish have nearly halved in value over the past year, while Gemini has fallen 82%.
Several US states are challenging prediction markets under gambling laws. Michigan regulators said this month that Coinbase agreed to stop offering event contracts to customers in the state.
Blockchain.com has also confidentially filed with the SEC for an IPO, targeting a valuation between $4 billion and $6 billion.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
