Binance.US targets prediction markets with CFTC license bid: report

Binance.US has moved closer to entering the U.S. prediction market business after confirming plans to seek a federal license that would let it offer regulated event contracts to retail customers. Summary Binance.US plans to apply for a CFTC license to launch a regulated prediction market platform in the U.S. The move advances the exchange’s earlier strategy to expand into derivatives and event contracts beyond spot crypto trading. Robinhood’s latest earnings have shown strong growth in event contract revenue as more trading platforms enter the market. State lawsuits and conflicting court rulings continue to create legal uncertainty for prediction market operators despite federal oversight efforts. According to Journalist Eleanor Terret, citing comments from Binance.US Chief Executive Officer Stephen Gregory at the Rare Evo conference in Las Vegas, reported that the exchange plans to apply for a Commodity Futures Trading Commission-designated contract market (DCM) license in August. 🚨SCOOP: @BinanceUS plans to apply to the @CFTC for a Designated Contract Market (DCM) next month with the goal of offering prediction markets to customers, CEO @Stevie_Satoshi just told me on stage at @R...