Blockchain.com seeks CFTC greenlight for US prediction markets, crypto derivatives trading: CNBC

Blockchain.com has applied for two U.S. regulatory approvals that would allow the crypto wallet and trading platform to serve American customers with prediction markets and crypto derivatives, CNBC reported Friday. The applications cover a designated contract market (DCM) license and registration as a futures commission merchant (FCM), both of which fall under the authority of the Commodity Futures Trading Commission.

The company already offers event-based prediction markets through Polymarket and perpetual futures via Hyperliquid, but those products are available only to users outside the United States. Approval of the filings would let Blockchain.com extend the same services to U.S. clients.

Chief executive and co-founder Peter Smith framed the move as a matter of convenience, saying users should be able to hold digital assets, trade derivatives and take positions on real-world events without having to switch between multiple applications.

Broader US expansion

The CFTC filings follow a September agreement with the New York Stock Exchange that would give Blockchain.com users access to tokenized U.S. equities and ETFs through the exchange's planned digital trading venue. Together, the two initiatives point to a strategy of broadening the platform's product set in the American market.

Blockchain.com is also laying groundwork for a public listing. The company confidentially filed for an IPO in May, and Bloomberg reported last week that it is seeking to raise roughly $500 million at a valuation of between $4 billion and $6 billion, with a listing targeted before the end of 2026.

The IPO ambition is not new. Blockchain.com has been considering a public offering for at least four years; in April 2022 it was in talks with banks about a listing that year, shortly after raising funds at a $14 billion valuation. No timeline for a decision on the CFTC applications was disclosed.