Crypto exchange Binance.US eyes predictions license in August: ‘Comeback strategy’

Binance.US plans to apply for Commodity Futures Trading Commission (CFTC) approval to offer prediction markets.

According to former FOX Business reporter Eleanor Terrett, the crypto exchange will apply for a Designated Contract Market (DCM) license, a key requirement for offering event contracts or prediction markets.  

According to her, Steve Gregory, the CEO of Binance U.S., said they’ll make the application in August.  Terrett added that Binance.US’ push was part of its “comeback strategy.”

The move is part of the exchange’s broader comeback strategy, which centers on lower trading fees and expanding beyond spot trading with products such as prediction markets and perpetuals.

This is also part of a broader trend of both U.S. and offshore crypto platforms evolving into super apps covering everything from trading to investment. Binance’s global arm introduced prediction markets in April 2026.

In the U.S., Coinbase, Gemini, and others are all racing to get a slice of the prediction markets. So, what’s at stake?

Prediction markets volume hit a record $46B

At the peak of the World Cup, decentralized prediction market volume hit a record $46B in volume in June. 

So far in July, the volume has hit a record high close to $50B with an average of about $4M in weekly revenue or nearly $200M in annual revenue. 

That’s only on decentralized platforms. Centralized venues with a massive distribution moat are reaping big on prediction markets.

For example, Robinhood stated that its event contracts segment now accounts for 20% of its total transaction revenue in Q2. It made $156M in revenue from prediction markets in Q2, a 50% increase on a quarterly basis.

In fact, the revenue was bigger than its combined equities and crypto markets. 

From a volume perspective, Robinhood did a record $13.9B in event contracts in Q2. 

With prediction markets generating more money than conventional segments (equities or crypto), it is not surprising that every crypto exchange wants to jump into the opportunity. 

However, betting platforms and states are banning prediction market platforms for flouting local gambling laws. The ongoing legal battle between the CFTC and states over who should oversee this sector could derail prediction markets’ full adoption.   

Final Summary

• Binance.US plans to apply for CFTC permission to offer prediction markets next month
• Robinhood made $156M in revenue from prediction markets, outpacing its equities and crypto segment.