Binance.US to Seek CFTC License for Prediction Markets, CEO Says

Cryptocurrency exchange Binance.US plans to apply for a Designated Contract Market license from the U.S. Commodity Futures Trading Commission, aiming to enter the prediction markets space and potentially compete with platforms like Kalshi and Polymarket.

CEO Outlines Plans at Industry Conference

Speaking at the Rare Evo blockchain conference on Wednesday, Binance.US CEO Steve Gregory said the company intends to submit its DCM application to the CFTC sometime in August. The license would allow the exchange to legally offer prediction market products under federal oversight.

What a DCM License Requires

Under CFTC regulations, companies holding a Designated Contract Market license can trade futures or options contracts tied to a wide range of underlying assets or indexes. To qualify, applicants must meet 23 core regulatory principles, including maintaining system safeguards, proper record-keeping practices and addressing potential conflicts of interest. As of Wednesday, CFTC records showed no pending application from Binance.US, suggesting the filing has not yet been submitted.

Follows Resolution of Earlier Legal Issues

This move comes more than a year after the U.S. Securities and Exchange Commission dropped its lawsuit against Binance, its U.S. affiliate and former CEO Changpeng Zhao, which had centered on allegations involving misuse of customer funds. The planned CFTC application marks a new chapter for Binance.US as it seeks to expand into regulated financial products beyond traditional crypto trading.