Blockchain.com Seeks CFTC Approval to Expand Into US Prediction Markets

Blockchain.com, a cryptocurrency wallet and trading platform, has begun the approval process to offer prediction market and derivatives services to US customers.

Blockchain.com has applied to the US Commodity Futures Trading Commission for designated contract market, or DCM, approval and futures commission merchant, or FCM, registration, The Block reported on October 9, citing an earlier CNBC report.

The company already offers customers outside the US a prediction market service linked to Polymarket and perpetual futures trading through Hyperliquid. The application is part of its effort to expand those services into the US.

Peter Smith, Blockchain.com's co-founder and chief executive officer, told CNBC in a statement that users should be able to manage digital assets, trade derivatives and take positions on real-world events without moving across multiple apps.

Blockchain.com is also expanding into tokenized securities. It signed an agreement with the New York Stock Exchange in September and is preparing a service that would allow users to invest in tokenized US stocks and exchange-traded funds through the NYSE's digital trading platform.

The company is also pursuing an initial public offering. It confidentially filed for a listing in May and is seeking to raise about $500 million at a valuation of $4 billion to $6 billion, Bloomberg reported. It is aiming to complete the listing this year.