Binance.US Plans CFTC License Application for Prediction Markets
Binance.US plans to apply for a Designated Contract Market license from the U.S. Commodity Futures Trading Commission in August, CEO Steve Gregory said.
The license would allow the crypto exchange to operate its own prediction market and potentially compete with platforms such as Kalshi and Polymarket.
Designated Contract Markets may offer regulated futures and options contracts but must comply with 23 CFTC core principles, including record-keeping, system safeguards and conflict-of-interest controls.
As of Wednesday, the CFTC had not listed a pending application from Binance.US.
The planned filing comes more than a year after the U.S. Securities and Exchange Commission dismissed its lawsuit against Binance, Binance.US and former CEO Changpeng Zhao.
Binance.US plans to apply for a Designated Contract Market license from the U.S. Commodity Futures Trading Commission in August, CEO Steve Gregory said.
The license would allow the crypto exchange to operate its own prediction market and potentially compete with platforms such as Kalshi and Polymarket.
Designated Contract Markets may offer regulated futures and options contracts but must comply with 23 CFTC core principles, including record-keeping, system safeguards and conflict-of-interest controls.
As of Wednesday, the CFTC had not listed a pending application from Binance.US.
The planned filing comes more than a year after the U.S. Securities and Exchange Commission dismissed its lawsuit against Binance, Binance.US and former CEO Changpeng Zhao.