Blockchain.com Applies for CFTC Approval to Enter US Prediction Markets

Blockchain.com, the crypto wallet and trading platform, has started the licensing process to offer prediction market and derivatives services to US customers.

The company has applied to the US Commodity Futures Trading Commission for approval as a Designated Contract Market, or DCM, and for registration as a Futures Commission Merchant, or FCM, The Block reported on October 9. CNBC first reported the filing.

Blockchain.com currently offers customers outside the US a prediction market service linked to Polymarket and perpetual futures trading through Hyperliquid. The application is part of an effort to expand those services to the US market.

In a statement to CNBC, co-founder and Chief Executive Officer Peter Smith said users should be able to manage digital assets, trade derivatives and take positions on real-world events without moving between multiple apps.

Blockchain.com is also expanding into tokenized securities. It signed an agreement with the New York Stock Exchange in September and is preparing a service that would allow users to invest in tokenized US stocks and exchange-traded funds through the NYSE's digital trading platform.

The company is also pursuing an initial public offering. It confidentially filed for a listing in May and is seeking to raise about $500 million at a valuation of $4 billion to $6 billion, Bloomberg reported. It aims to complete the listing this year.