Blockchain.com seeks CFTC approval to offer event contracts and cryptocurrency derivatives in the US; it already offers some prediction markets internationally

U.S. users can now trade crypto derivatives and bet on real-world events through Blockchain.com without switching apps.

Blockchain.com has applied to the Commodity Futures Trading Commission (CFTC) for licenses to offer event contracts and cryptocurrency derivatives to both retail and institutional clients in the United States. The digital asset platform aims to be registered as a designated contract market (DCM) and a futures commission merchant (FCM). This move signifies Blockchain.com's ambition to expand its product offerings within the U.S., mirroring services already available to some of its international customers, including prediction markets and perpetual futures. The company is one of several crypto-related firms seeking regulatory approval to enter the growing prediction markets and derivatives space in the U.S., with other exchanges like Crypto.com and Gemini also operating similar marketplaces. Blockchain.com is also reportedly preparing for a public offering.

Blockchain.com's application to the CFTC signals a broader trend of established crypto platforms seeking to integrate a wider array of financial products, including prediction markets and derivatives, directly into their user experience. This move aims to provide a more unified platform for users, reducing friction and potentially capturing a larger share of user activity currently dispersed across multiple specialized applications. The company's simultaneous pursuit of an IPO suggests a strategic effort to build a comprehensive financial services offering that appeals to both regulators and public market investors.

The increasing number of companies seeking CFTC approval for event contracts and derivatives highlights a growing demand for regulated avenues to trade on future outcomes and digital assets. This regulatory push by platforms like Blockchain.com could democratize access to these markets, making them more accessible and potentially more stable for a wider audience. It also points to a maturing crypto industry willing to engage with traditional financial regulatory frameworks to scale its offerings.