Blockchain.com Applies for CFTC Licence to Open Prediction Market in the US

Blockchain.com has submitted an application to the Commodity Futures Trading Commission for a licence that would allow it to operate a regulated prediction market in the United States.

The application covers event contracts, which pay out based on the outcome of real-world events. Blockchain.com has been expanding its product offering beyond spot and derivatives trading, and prediction markets represent a significant growth opportunity.

Securing the licence would allow Blockchain.com to offer prediction market contracts to US customers through a regulated venue, with the oversight and consumer protections that come with federal licensing.

The CFTC has been actively reviewing applications from multiple crypto platforms seeking to enter the prediction market space. The regulatory framework for event contracts is still evolving, and the outcome of Blockchain.com's application could set important precedents.

The application process is expected to take several months. Blockchain.com has stated that it is committed to working with regulators to ensure compliance with all applicable requirements.