Blockchain.com Applies for CFTC Licenses to Launch Its Own Prediction Market and Derivatives Platform

Blockchain.com has reportedly asked the US Commodity Futures Trading Commission for approval to run prediction market and crypto derivatives services. The exchange filed for two licenses covering event contracts and derivatives for American retail and institutional customers.

A designated contract market license would let it operate as a futures exchange for event contracts, while a futures commission merchant license would let it act as a broker for derivatives. In July, the company said it would add Polymarket to its app, but an approved license would allow it to build a marketplace of its own. It has also been reported to be weighing an IPO at a valuation of up to $6 billion, aiming to raise $500 million.

Prediction Markets Face Court Tests Across the US

The filing arrives while courts decide who oversees platforms like Kalshi and Polymarket. Many state authorities have pending lawsuits over alleged violations of sports and election betting laws. Last month, New Jersey officials asked the US Supreme Court to review their case against Kalshi, a move that could settle the dispute between state and federal regulators.

CFTC Chair Selig Pushes Rulemaking Over Legislation

CFTC Chair Michael Selig said this week that the agency is pursuing crypto oversight through rulemaking instead of waiting for Congress, pointing to the FTX collapse as proof that safeguards are needed.

He argued the proposed rules would protect spot markets and prevent customer fund theft. Selig remains the agency’s only commissioner, with all four other seats empty and no White House nominations announced. He has also claimed the CFTC holds exclusive jurisdiction over prediction markets.