Binance.US plans to apply next month for a designated contract market license from the Commodity Futures Trading Commission as it expands beyond spot crypto trading into prediction markets and perpetual products. CEO Stephen Gregory disclosed the plan at the Rare Evo conference in Las Vegas, saying the status would allow the exchange to operate a derivatives exchange under federal oversight. The platform once controlled roughly 20% of the US crypto exchange market in 2022 according to CoinDesk Indices data, but its market share has since fallen to nearly zero. The global Binance exchange reached a 4.3 billion dollar settlement with US authorities in 2023.
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