Blockchain.com pursues CFTC approval for prediction markets: CNBC

The crypto company has reportedly applied for two licenses with the US commodities regulatory as the courts weigh prediction markets cases.

Blockchain.com has reportedly applied to the US Commodity Futures Trading Commission (CFTC) for approval of prediction market offerings and crypto derivatives. 

CNBC reported Friday that the exchange filed for two licenses with the CFTC for event contracts and crypto derivatives offerings for US-based retail and institutional investors. The licenses, as a designated contract market (DCM) and futures commission merchant (FCM), would allow Blockchain.com to operate as a futures exchange for event contracts and a broker for derivatives contracts, respectively.

Blockchain.com announced in July that it planned to partner with Polymarket as part of a prediction markets integration on the company’s app. However, if approved, the CFTC license would allow the exchange to offer its own marketplace with event contracts.

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