Blockchain.com and Binance US seek US licenses for prediction market products
Blockchain.com and Binance US have applied for regulatory approval to offer event contracts in the United States, joining Coinbase, Crypto.com, Gemini and Bullish in the growing prediction market sector.
Why it matters
Major crypto exchanges are diversifying into prediction markets as traditional trading revenue declines, signaling a strategic shift in business models. The entry of Blockchain.com and Binance US into an already crowded field increases competition, while ongoing regulatory scrutiny in states like Michigan highlights the uncertain legal landscape for event contracts.
Key facts
Blockchain.com applied for a US license last week to offer regulated event contracts
Reported by Crypto.News
Binance US submitted an application for regulatory approval to offer prediction markets in the United States
Reported by Crypto.News
Coinbase, Crypto.com, Gemini and Bullish are pursuing prediction markets through applications, partnerships or their own platforms
Reported by Crypto.News
Michigan regulators say Coinbase agreed to stop offering event contracts to customers in the state
Reported by Crypto.News
Crypto exchanges are expanding product offerings as falling cryptocurrency prices and weaker trading activity pressure revenue
Reported by Crypto.News
Prediction market activity continues to grow despite a prolonged downturn in cryptocurrency prices
Reported by Crypto.News
What happened
Crypto.News reports that British cryptocurrency company Blockchain.com applied for a US license last week to offer regulated event contracts, citing a Financial Times report that referenced a person familiar with the matter. Binance US has also reportedly submitted its own application for regulatory approval to offer prediction markets in the United States. The applications come as crypto exchanges expand product offerings amid falling cryptocurrency prices and weaker trading activity that pressure revenue from traditional digital asset services. Coinbase, Crypto.com, Gemini and Bullish are also pursuing prediction markets through regulatory applications, partnerships or their own trading platforms. Regulatory disputes remain a concern, with Michigan regulators stating that Coinbase has agreed to stop offering event contracts to customers in the state. Prediction market activity continues to grow despite a prolonged downturn in cryptocurrency prices.
How the story developed
- Update
Blockchain.com applies for US prediction market license
Financial Times reports Blockchain.com applied last week for a US license to offer regulated event contracts
- Update
Binance US submits prediction market application
Binance US recently submitted its own application for regulatory approval to offer prediction markets in the US
- First report
First report by Crypto.News
Blockchain.com, Binance US join prediction market race as crypto trading slows
- Update
Crypto.News publishes report on prediction market race
Article published detailing Blockchain.com and Binance US joining Coinbase, Crypto.com, Gemini and Bullish in pursuing prediction markets
Affected entities
Also mentioned: Robinhood, Bitcoin, Ethereum, Solana, XRP
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Crypto.News Crypto media | Blockchain.com, Binance US join prediction market race as crypto trading slows | Original |
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