Binance US and Blockchain.com Seek CFTC Approval to Offer Prediction Markets

TLDR Binance US and Blockchain.com have both applied to the CFTC to offer regulated prediction markets to US customers. Blockchain.com is also seeking a Futures Commission Merchant license and is preparing for an IPO at a $4 billion to $6 billion valuation. Prediction market volumes on Kalshi and Polymarket rose from $17 billion in January to $72 billion in September. Bitcoin is down 28% and ether is down 42% over the past year, while spot crypto trading volumes fell 18%. Several US states are challenging prediction markets under gambling laws. Binance US and Blockchain.com are asking the US Commodity Futures Trading Commission (CFTC) for approval to offer regulated prediction markets. Both firms want to serve US customers. 🇺🇸 Blockchain.

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