Blockchain.com has applied to the Commodity Futures Trading Commission for permission to operate prediction markets and crypto derivatives trading in the United States, CNBC reported.

The move would place the long-standing crypto financial services firm in direct competition with platforms such as Polymarket and Kalshi, which have expanded event-contract trading into the mainstream following the 2024 US election cycle.

What is Blockchain.com asking the CFTC to approve?

According to CNBC, the company is seeking regulatory clearance on two fronts: event contracts — markets where users trade on the outcome of real-world events — and crypto derivatives. The CFTC holds exclusive jurisdiction over listed futures, options and event contracts on US markets, which makes the agency's registration or no-action pathway the gating item for any lawful launch.

Blockchain.com already operates a retail trading venue and institutional custody business. Adding CFTC-regulated derivatives and prediction markets would extend the firm from spot services into regulated risk-transfer products, deepening its revenue mix beyond trading fees and custody.

Why does prediction-market entry matter now?

Prediction markets have moved from a niche corner of crypto to a contested regulatory and commercial battleground. Polymarket, the offshore venue that dominated election-related volume, has faced CFTC scrutiny over its US accessibility, while Kalshi has fought successfully in federal court to list political event contracts over state objections.

A CFTC-regulated entrant with Blockchain.com's existing US user base would change that market structure. Registered venues can market to American customers directly, tap institutional flow and list contracts without the legal ambiguity that has constrained offshore competitors.

The application also signals how crypto firms are positioning around the current US regulatory climate. Rather than relying on offshore structures, Blockchain.com is pursuing a domestic license — a path that ties its expansion timeline to the CFTC's review docket rather than to market conditions.

What are the operational consequences?

Approval would require Blockchain.com to build or contract matching, clearing and settlement infrastructure that meets CFTC standards for designated contract markets or swap execution facilities. That compliance burden includes position monitoring, market surveillance and customer onboarding under know-your-customer and anti-money-laundering rules.

For the firm, the payoff is a regulated product shelf: crypto derivatives that US retail traders currently access through offshore venues, plus event contracts with demonstrated retail demand. For incumbents, it means a well-capitalized competitor entering a segment they have so far contested mainly with regulators and each other.

The CFTC has not publicly confirmed the application, and CNBC's report did not specify which registration pathway Blockchain.com is pursuing or a target launch date. The firm has not disclosed financial terms attached to the planned offering.

The application now sits with the CFTC, whose review timeline will determine when — and whether — Blockchain.com can begin listing prediction markets and crypto derivatives for US customers.