The crypto exchange will apply for a CFTC Designated Contract Market license in August to offer prediction markets, challenging existing platforms.
Binance.US will seek a Designated Contract Market (DCM) license from the US Commodity Futures Trading Commission (CFTC) in August to launch prediction markets. The move aims to compete with platforms like Kalshi and Polymarket, according to CEO Steve Gregory at the Rare Evo blockchain conference.
Under CFTC rules, DCMs can trade futures or options based on commodities, indices, or instruments. Applicants must meet 23 core principles, including system safeguards and conflict-of-interest policies. The CFTC currently has no record of a pending Binance.US application.
The initiative follows the SEC’s dismissal of its lawsuit against Binance and its former CEO, Changpeng Zhao, over a year ago. Binance.US has not yet commented on the application timeline.