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Blockchain.com seeks CFTC licences for prediction markets

The crypto exchange has reportedly applied for two CFTC licences covering event contracts and crypto derivatives, as US courts weigh prediction market oversight.

Why it matters: The filing shows a major crypto exchange seeking regulated US footing in prediction markets while courts and states fight over who oversees the sector.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: Blockchain.com seeks CFTC licences for prediction markets
Image: Cointelegraph
Original reporting: Turner Wright, Cointelegraph

Key points

  • CNBC reported Friday that Blockchain.com filed for a designated contract market licence and a futures commission merchant licence.
  • The licences would let it run a futures exchange for event contracts and broker derivatives for US retail and institutional investors.
  • Blockchain.com said in July it planned to partner with Polymarket on a prediction markets integration in its app.

CNBC reported on Friday that the exchange filed for two licences with the regulator.

The applications cover a designated contract market licence and a futures commission merchant licence.

If the CFTC approves the licences, the exchange could offer its own marketplace with event contracts.

Oversight of prediction market platforms such as Kalshi and Polymarket is being tested in US courts, with state authorities pursuing lawsuits over alleged violations of laws on betting on sports and elections.

What to watch: The CFTC must decide on the two licence applications; New Jersey's petition asks the US Supreme Court to weigh in on its case against Kalshi.

Read the full story on Cointelegraph

Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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