Binance.US Aims to Launch Prediction Markets Amid CFTC Application Plans

Cryptocurrency exchange Binance.US is gearing up to launch prediction markets for its customers. According to Crypto in America journalist and host Eleanor Terrett, who cited comments from Binance.US CEO Stephen Gregory at Rare Evo: A Blockchain Event, the company plans to submit an application to the Commodity Futures Trade Commission (CFTC) for a Designated Contract Market (DCM) next month.

The move is part of Binance.US's broader comeback strategy, which aims to lower trading fees and expand beyond spot trading with products such as prediction markets and perpetuals. Gregory, who joined the company in March, has experience in building and scaling regulated crypto infrastructure companies and is a lawyer with expertise in digital assets compliance and regulatory matters.

Binance.US faced lawsuits from the Securities and Exchange Commission and the Department of Justice last year, but its case was dismissed by the SEC last summer. The company's efforts to regain a foothold in the U.S. market include expanding beyond spot crypto trading into new areas such as derivatives and prediction markets.