TheBlock
Blockchain.com has applied for a designated contract market license and futures commission merchant registration from the CFTC, CNBC reported Friday. The approvals would allow the crypto wallet and trading platform to offer prediction markets and crypto derivatives to US customers, expanding products it currently makes available only outside the country.
Why it matters
Blockchain.com already offers prediction markets through Polymarket and perpetual futures via Hyperliquid to non-US customers. The applications seek a path to bring those products into the US market under CFTC oversight. CEO and co-founder Peter Smith said users should be able to manage digital assets, trade derivatives and take positions on real-world events without switching between apps.
The applications add to the company’s broader push to expand its financial services. In September, Blockchain.com reached an agreement with the New York Stock Exchange to give users access to tokenized US stocks and ETFs through the exchange’s planned digital trading platform.
Market impact
CFTC approval would open a new US customer base for Blockchain.com’s prediction-market and derivatives offerings, but the applications are not approvals. The outcome will determine whether the company can offer those products domestically.
The move comes as Blockchain.com prepares for a potential public listing. The company confidentially filed for an IPO in May, and recent reports said it was seeking to raise roughly $500 million at a valuation of $4 billion to $6 billion, with a listing targeted before the end of 2026. The company has explored going public before: in April 2022, it was in talks with banks about a potential listing after raising funds at a $14 billion valuation.
Frequently asked questions
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What CFTC registrations is Blockchain.com seeking?
It has applied for a designated contract market license and registration as a futures commission merchant.
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Which products could Blockchain.com offer to US customers?
If approved, the applications would allow the company to offer prediction markets and crypto derivatives in the US.
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What prediction-market and derivatives services does Blockchain.com already offer abroad?
It offers prediction markets through Polymarket and perpetual futures via Hyperliquid to non-US customers.
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What other US-market expansion is Blockchain.com pursuing?
An agreement with the NYSE is intended to give users access to tokenized US stocks and ETFs through the exchange’s planned digital trading platform.
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What are the reported terms of Blockchain.com’s potential IPO plans?
Recent reports said the company was seeking roughly $500 million at a valuation of $4 billion to $6 billion, targeting a listing before the end of 2026.
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