Binance US to Seek CFTC Designated Contract Market License for Prediction Markets
Binance US announced that it will file an application with the U.S. Commodity Futures Trading Commission (CFTC) for a Designated Contract Market (DCM) license in August. The plan was revealed by CEO Steve Gregory at the Rare Evo blockchain conference in Las Vegas. A DCM license would allow the exchange to operate a federally regulated derivatives platform and offer event‑based prediction‑market contracts alongside futures and options.
The move is part of Binance US’s broader comeback strategy after regulatory actions reduced its U.S. market share from about 20 % in 2022 to near zero. By entering the fast‑growing prediction‑market sector, Binance US intends to compete with existing players such as Kalshi, Polymarket, Gemini and Coinbase. The CFTC has not listed Binance US as having a pending DCM application, and approval could take several months with no guarantee of success.
If approved, Binance US would become one of the few U.S. platforms licensed to offer regulated prediction‑market products, potentially expanding its product lineup beyond spot crypto trading to include perpetual futures and lower trading fees.
Entities: Binance US · Commodity Futures Trading Commission · Designated Contract Market · Kalshi · Polymarket · Prediction Markets · Rare Evo blockchain conference · Steve Gregory · U.S. Commodity Futures Trading Commission (CFTC)
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 12 SOURCES] CEO Steve Gregory announced the plan at the Rare Evo blockchain conference in Las Vegas. (existing)
- [○ 1 SOURCE] Binance US operates separately from the global Binance exchange but shares branding and beneficial ownership. (Article 95bb7c9e-f5f8-4133-b6b7-577d52d4fc4c)
- [● 3 SOURCES] The application will be filed in August. (All articles)
- [● 4 SOURCES] Binance US aims to compete with existing prediction‑market platforms such as Kalshi and Polymarket. (Competitive positioning statement)
- [○ 1 SOURCE] At its peak in 2022, Binance US held roughly 20% of the U.S. crypto exchange market, which has since fallen to near zero. (Article 95bb7c9e-f5f8-4133-b6b7-577d52d4fc4c)
- [● 4 SOURCES] Binance US plans to apply for a Designated Contract Market (DCM) license from the U.S. Commodity Futures Trading Commission. (All articles)
- [● 4 SOURCES] A DCM license would allow Binance US to offer regulated prediction‑market contracts to U.S. customers. (Regulated prediction market offering enabled by DCM status)
- [● 12 SOURCES] As of the announcement, Binance US was not listed on the CFTC’s public pending DCM applications list. (existing)
- [● 12 SOURCES] Binance US will apply for a Designated Contract Market (DCM) license from the U.S. Commodity Futures Trading Commission in August. (existing)
- [● 12 SOURCES] The global Binance group settled a $4.3 billion case with U.S. authorities in 2023 over sanctions and money‑transmission violations. (existing)
- [● 12 SOURCES] CFTC approval for the DCM application could take several months and is not guaranteed. (existing)
- [● 12 SOURCES] Binance US’s U.S. market share fell from about 20% in 2022 to near zero after regulatory actions. (existing)