Binance.US is also getting into prediction markets. According to a report by the Financial Times on October 21, Binance.US recently filed an application with the U.S. Commodity Futures Trading Commission (CFTC), seeking approval to launch prediction markets in the United States.
Prediction markets work simply: you bet “yes” or “no” on an event—for example, which team will win a championship, or whether a cryptocurrency will reach a certain price by the end of the month. Once the outcome is known, those who picked correctly get paid.
This market has surged this year. Monthly trading volume on Kalshi and Polymarket rose from $17 billion in January to $72 billion in September, more than quadrupling. Over the same period, crypto spot trading volume fell 18%. With crypto prices moving sideways, exchanges are naturally looking for new ways to engage users.
Binance.US isn’t the first. Coinbase partnered with Kalshi earlier this year, Blockchain.com just filed an application last week, and Bullish is also waiting in line. Binance.US CEO Stephen Gregory said back in July that it planned to apply for an exchange license allowing it to offer prediction markets, futures, and options.
Keep in mind that filing an application doesn’t mean it will be approved, and the launch date hasn’t been set yet. As of October 21 at 18:57 (UTC+8), $BNB was trading at around $746.8, up 2.4% in 24 hours; $BTC was around $83,400, also up 2.4%.