Blockchain.com Seeks U.S. Regulatory Approval to Expand Into Prediction Markets and Crypto Derivatives

Table of Contents

• You might want to know


• Main Topic


• Key Insights Table


• Afterwards...

You might want to know

• What approvals is Blockchain.com seeking, and what kinds of trading would they allow the company to offer in the United States?


• How do its plans fit into the wider convergence of prediction markets and cryptocurrency derivatives?

Main Topic

Blockchain.com, a digital asset platform, is seeking a larger role in the U.S. market for prediction markets and cryptocurrency derivatives. The company has applied to the Commodity Futures Trading Commission (CFTC) for two forms of regulatory authorization. If approved, the applications would support offering event contracts and crypto derivatives to both retail and institutional customers in the United States.

The first application asks the CFTC to designate Blockchain.com as a futures exchange by granting it a designated contract market (DCM) license. A DCM is a regulated marketplace where eligible futures and other contracts can be listed and traded. The second application seeks registration as a futures commission merchant (FCM), a type of intermediary that handles customer orders and transactions in derivatives contracts.

These are separate regulatory roles. A DCM designation concerns the operation of a marketplace, while FCM registration applies to a firm acting as a broker or intermediary for derivatives customers. Blockchain.com’s applications therefore point to a plan to participate in more than one part of the trading process, subject to the CFTC’s review and the requirements attached to each status.

Peter Smith, Blockchain.com’s CEO and co-founder, described the company’s broader objective as bringing several digital finance activities into one place. In a statement, he said: “Users should be able to manage their digital assets, trade derivatives, and take positions on real-world events easily, without jumping between different apps. Our DCM and FCM applications build toward that future in the U.S. through the appropriate regulatory frameworks.”

The proposed combination would connect digital asset management with trading products tied to both financial markets and real-world events. Event contracts let participants take positions based on whether a specified outcome occurs. Cryptocurrency derivatives, by contrast, are financial contracts whose value is linked to crypto assets. The products differ in what they track, but both involve trading contracts rather than simply buying and holding an underlying asset.

The applications are requests for regulatory approval, not confirmation that Blockchain.com has received permission to launch these services in the United States. Any U.S. offering would depend on the relevant regulatory decisions and on the company meeting applicable requirements. The filing signals an intended expansion, but does not by itself establish when, or whether, the products will become available.

Blockchain.com has already begun offering related products to some customers outside the United States. Earlier this year, it introduced prediction markets through a partnership with Polymarket, and it made perpetual futures powered by Hyperliquid available to some international users. These arrangements provide context for the company’s U.S. applications: it has experience distributing such products internationally and is now seeking a path to offer event contracts and derivatives within the U.S. regulatory system.

Perpetual futures are a form of derivative that, unlike a conventional futures contract, do not have a fixed expiration date. They have become one of the most popular trading products in crypto markets. Their international availability through Blockchain.com’s arrangement with Hyperliquid is distinct from the company’s proposed U.S. activity, which would be subject to U.S. regulatory authorization.

The applications also reflect a broader overlap between the crypto industry and prediction markets. Digital asset exchanges Crypto.com and Gemini Space Station operate their own event contract marketplaces. Coinbase offers event contracts primarily through a partnership with Kalshi. The movement is not limited to crypto companies entering prediction markets: Kalshi and Polymarket have also launched perpetual futures, for U.S. and international customers, respectively.

This two-way expansion shows how companies are extending their product ranges across adjacent types of trading. Crypto platforms are adding contracts tied to events, while prediction-market businesses are exploring crypto derivatives. The result is a more closely connected competitive landscape, although firms’ products, partnerships, customer access, and regulatory status can differ. A company’s presence in one market does not necessarily mean it is authorized to offer the same products in another jurisdiction.

Blockchain.com is among a growing group of applicants seeking to operate as a designated contract market. It joins 11 other companies that have filed this year alone for DCM licenses. The CFTC has approved six new DCMs in 2026. These figures indicate continued interest in establishing regulated contract markets, alongside an active approval process. They do not, on their own, establish how many applications remain pending or predict the outcome of Blockchain.com’s filing.

The company is also preparing for a possible move into public markets. Blockchain.com confidentially filed for an initial public offering (IPO) with the Securities and Exchange Commission in May. A confidential filing is part of the process of preparing a potential public offering, but does not necessarily mean that an IPO has been completed or that a public listing is assured.

Bloomberg reported last month that Blockchain.com was planning to go public this year and was targeting a valuation between $4 billion to $6 billion. That reported target is a planning figure, not a confirmed valuation or final offering price. The company’s U.S. licensing efforts and public-market plans are distinct developments, although both point to a broader effort to expand its institutional presence and business profile.

Disclosure: CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment. This relationship is relevant context for coverage involving prediction markets and the companies operating in that sector. It does not change the reported details of Blockchain.com’s applications, but readers may consider it when assessing reporting about the industry.

Taken together, Blockchain.com’s plans involve several connected but separate steps: applying for CFTC permissions, building on international product arrangements, competing in an increasingly interconnected market, and pursuing a potential IPO. The applications are the immediate focus because they determine whether the company can offer the proposed products to U.S. customers through the regulatory structures it has requested.

Key Insights Table

Afterwards...

The next significant developments will depend on the CFTC’s review of Blockchain.com’s applications and the company’s ability to satisfy regulatory requirements. Observers will also be watching how regulators distinguish and oversee event contracts, traditional derivatives, and crypto-linked products as firms combine them within related platforms. Clear rules can help customers understand what protections apply and what responsibilities fall on exchanges and intermediaries.

Further exploration of market surveillance, customer asset safeguards, contract settlement, and the handling of conflicts of interest could help inform the development of these markets. Researchers and policymakers may also examine how prediction-market information is generated and how derivatives trading interacts with volatile digital asset prices. These questions matter not only for companies seeking licenses, but also for consumers choosing where and how to participate.

Technology may make it easier to bring digital assets, event contracts, and derivatives together, but a unified interface does not make their risks identical. The central challenge is to pair product innovation with transparent rules, reliable operations, and clear information for customers. As regulatory decisions, market competition, and Blockchain.com’s public-market plans develop, the relationship between innovation and oversight will remain a defining issue for the sector.