Binance.US is preparing to enter the fast-growing prediction markets sector by applying for a Designated Contract Market (DCM) licence from the U.S. Commodity Futures Trading Commission (CFTC). The action would put the cryptocurrency exchange in direct competition with well-known firms like Kalshi and Polymarket by enabling it to create its own prediction market platform.
According to Binance.US CEO Steve Gregory, the business intends to file the application in August, which will be another step in its growth beyond conventional bitcoin trading. More than a year has passed since the U.S. Securities and Exchange Commission (SEC) withdrew its complaint against Binance.US and its previous administration.
Gregory stated that the exchange views prediction markets as a significant growth prospect when speaking at the Rare Evo blockchain conference. These platforms enable users to exchange contracts depending on the results of upcoming events, such as elections, economic statistics, sports, and entertainment.
Binance is able to lawfully run such a market in the US.The CFTC must first grant the US a Designated Contract Market (DCM) authorization. DCMs are allowed to list futures and options contracts linked to different commodities, indices, and other authorized underlying assets under current laws.
The licencing procedure is demanding. The CFTC has created 23 basic principles that applicants must adhere to. These principles encompass topics including record-keeping, market monitoring, conflict resolution, cybersecurity, and operational safeguards.
The planned expansion also reflects Binance.US’s efforts to diversify its business following regulatory challenges. A significant legal obstacle for the firm was removed in 2025 when the SEC dropped its action against Binance, Binance.US, and former CEO Changpeng Zhao.
JUST IN: 🇺🇸 Binance US plans to apply to CFTC for designated contract market license. pic.twitter.com/q6NhhBjhLZ
— Whale Insider (@WhaleInsider) July 29, 2026
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