Blockchain.com Seeks Approval for US Prediction Markets and Crypto Derivatives

Blockchain.com has applied for two licenses with the US Commodity Futures Trading Commission (CFTC) to offer prediction markets and crypto derivatives. The licenses, a designated contract market (DCM) and futures commission merchant (FCM), would allow the company to operate as a futures exchange for event contracts and a broker for derivatives contracts.

According to Cointelegraph, this would enable Blockchain.com to offer its own marketplace with event contracts, rather than relying on overseas partners or a partnership with Polymarket.

The company is seeking to enter the prediction market boom in the US, having already offered some prediction markets internationally. Blockchain.com filed for the licenses as the courts weigh prediction markets cases, with many state-level authorities having lawsuits pending against companies for alleged violations of laws betting on sports and elections.

If approved, the licenses would allow Blockchain.com to provide event contracts and cryptocurrency derivatives to US-based retail and institutional investors. The company has reportedly applied for the licenses to run its own regulated event-contract venue.

Brief written by urgent.news from Decrypt, Techmeme, Cointelegraph — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.