Blockchain.com Applies to CFTC for Prediction Market and Derivatives Licenses Ahead of Planned IPO
Blockchain.com has applied to the U.S. Commodity Futures Trading Commission for designated contract market (DCM) and futures commission merchant (FCM) licenses, according to CNBC. The filings would let the crypto platform offer U.S. event contracts, commonly known as prediction markets, and cryptocurrency derivatives directly to customers.
The CFTC application comes ahead of a planned Blockchain.com has applied for DCM and FCM licenses to offer ahead of a planned $500 million IPO.
initial public offering, according to The Block.
Decrypt reported that DCM and FCM registration would let Blockchain.com run its own regulated event-contract venue rather than routing trades through overseas partners, as it has reportedly done until now.
Cointelegraph noted that the application arrives while U.S. courts are still weighing cases over the legal status of prediction markets.
Sources: CNBC, The Block, Cointelegraph, Decrypt
This article is for information only and is not financial advice.
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US Commodity Futures Trading Commission
