Binance.US has moved closer to entering the U.S. prediction market business after confirming plans to seek a federal license. According to comments from Binance.US Chief Executive Officer Stephen Gregory, the exchange plans to apply for a Commodity Futures Trading Commission-designated contract market (DCM) license in August. If approved, the license would allow Binance.US to list futures, options and event-based contracts under CFTC oversight, adding a new business line beyond its existing spot cryptocurrency services.
Prediction Market Expansion
The application also moves forward a strategy Gregory outlined earlier this month, when he said the exchange intended to pursue licenses for derivatives, perpetual futures and prediction markets as part of its expansion plans. A designated contract market license would place Binance.US alongside a small but expanding group of federally regulated prediction market operators, including Kalshi and Polymarket US.
Regulatory Challenges
Federal approval, however, would not remove every legal hurdle facing prediction market operators. Multiple states continue arguing that sports-related event contracts fall under state gambling laws even when platforms operate under federal commodities regulation. The legal disagreement intensified this week after a federal judge in Wisconsin rejected the CFTC’s request to stop the state from enforcing its gambling laws against platforms including Kalshi, Polymarket, Crypto.com, Robinhood and Coinbase.
