Key facts
- Blockchain.com is seeking CFTC approval to launch prediction markets and crypto derivatives trading in the US.
- The company applied for a Designated Contract Market (DCM) license to operate a regulated futures exchange.
- Blockchain.com also applied for Futures Commission Merchant (FCM) registration to act as a derivatives broker.
- CEO Peter Smith stated the goal is to offer digital asset management, derivatives trading, and event-based markets on a single platform.
- The company previously partnered with Polymarket for prediction markets and offered perpetual futures to international customers.
- Blockchain.com confidentially filed for an IPO with the SEC in May.
Blockchain.com is pursuing a significant expansion into prediction markets and crypto derivatives trading within the United States, having submitted applications to the US Commodity and Futures Trading Commission (CFTC). The company is seeking two key regulatory licenses: one as a Designated Contract Market (DCM) to operate a regulated futures exchange, and another as a Futures Commission Merchant (FCM) to function as a broker for derivatives transactions.
According to CEO and co-founder Peter Smith, the strategic aim is to provide customers with a unified platform for managing digital assets, trading derivatives, and accessing event-based markets. This move aligns with a broader industry trend towards integrated trading solutions, allowing users to access multiple financial products through a single service rather than separate applications.
However, the success of Blockchain.com's ambitions hinges on regulatory approval from the CFTC, as the applications do not guarantee permission to launch the proposed services in the US. This regulatory push follows earlier international forays into prediction markets through a partnership with Polymarket and the introduction of perpetual futures powered by Hyperliquid for select overseas clients.
In parallel with its regulatory efforts, Blockchain.com has been active in expanding its market reach. The company confidentially filed for an initial public offering with the US Securities and Exchange Commission (SEC) in May. It has also forged partnerships beyond crypto-native offerings, including a collaboration with the New York Stock Exchange (NYSE) to explore tokenized US stocks and exchange-traded funds. Additionally, Blockchain.com was admitted to Nigeria's Securities and Exchange Commission regulatory incubation program in August, allowing for an assessment of its safeguards and compliance standards.