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FollowingCore Points
Blockchain.com submitted a designated contract market (DCM) license application and a futures commission trader (FCM) registration application with the U.S. Commodity Futures Trading Commission (CFTC), and the company has confirmed this with CNBC.
After obtaining the relevant license, Blockchain.com will be able to provide event contracts and cryptocurrency derivatives services to U.S. retail and institutional customers. According to CNBC, a total of twelve companies, including Blockchain.com, have submitted DCM license applications this year, and the CFTC has approved relevant qualifications for six new institutions in 2026.
Business expansion under regulatory frameworks
Blockchain.com applied for two licenses from the U.S. Commodity Futures Trading Commission to enable it to legally provide forecast market products and cryptocurrency derivatives to retail and institutional investors in the United States. These applications mark the company's extension of Blockchain.com's product types that are currently available to some customers internationally to the regulated U.S. market. As the business boundaries between cryptocurrency exchanges and prediction market operators become increasingly blurred, this trend of cross-border integration becomes increasingly apparent.
According to CNBC, the company is asking the CFTC to designate it as a "designated contract market"(a type of futures exchange) and register as a "futures commission trader"(i.e., derivatives broker). Peter Smith, CEO and co-founder of Blockchain.com, said in a statement: "Users should be able to easily manage digital assets, trade derivatives and make bets on real-world events without having to switch frequently between different applications. Our DCM and FCM applications are aimed at moving towards this future within the appropriate regulatory framework in the United States."
Cryptography industry enters U.S. prediction market
This application joins Blockchain.com with a growing number of crypto companies seeking to gain a foothold in the U.S. event contract market. Earlier this year, it was reported that Blockchain.com began to provide predictive market services to some international customers through cooperation with Polymarket and provided perpetual contracts through Hyperliquid. Meanwhile, Crypto.com and Gemini operate their own event contract trading markets, while Coinbase provides such services mainly through its partnership with Kalshi.
On the other hand, Kalshi and Polymarket have also launched perpetual contract products for customers in the United States and around the world, respectively. Kalshi also submitted a perpetual contract application for U.S. stock indexes and copper prices in August this year. In addition, sports guessing contracts on these platforms also face legal challenges. For example, the National Football League (NFL) recently asked the U.S. Supreme Court to allow states to regulate the sports prediction market.
The IPO plan is advancing simultaneously with the CFTC application
While filing the application with the CFTC, Blockchain.com is also preparing to go public. According to CNBC, the company secretly filed an initial public offering (IPO) application with the U.S. Securities and Exchange Commission (SEC) in May this year. Bloomberg reported last month that Blockchain.com plans to go public this year at a valuation of up to $6 billion, with a target valuation range starting at $4 billion.
In addition, the company also signed a memorandum of understanding with the New York Stock Exchange (NYSE) in September, planning to provide tokenized U.S. stock services around the clock.
