Binance US Targets CFTC Approval to Launch Prediction Markets

Binance US is pursuing a CFTC DCM license to launch a prediction-market platform, CEO Steve Gregory said. Gregory told attendees at the Rare Evo blockchain conference that the company will submit the Designated Contract Market application next month. Eleanor Terrett reported the comments.

A DCM license would let Binance US offer event contracts. Traders use such markets to speculate on elections and economic data.

The company also plans lower fees and perpetual futures. Coinbase recently pitched its "Everything Exchange" vision. Gregory said the exchange is taking a similar approach.

The license is not guaranteed. Binance US has not yet filed the application. CFTC reviews can stretch for months.

A federal court recently rejected the CFTC's request to stop Wisconsin from enforcing state laws against sports contracts. The same order denied intervention requests from Kalshi and Crypto.com.