Binance.US is planning to apply for a license from the Commodity Futures Trading Commission next month to launch its own prediction market platform.

Chief Executive Officer Stephen Gregory said during the Rare Evo conference in Las Vegas that the U.S. crypto exchange is set to apply for a designated contract market license in August, a company spokesperson confirmed with The Block.

A designated contract market designation would allow the exchange to list futures, options, and event-based contracts for retail customers under federal oversight.

The entry of Binance's U.S. arm would position the exchange against existing CFTC-licensed prediction market leaders, Kalshi and Polymarket US. Several other U.S. crypto exchanges have already joined the race — Gemini obtained the CFTC license earlier this year, and Coinbase partnered with Kalshi to offer event contracts in the country.

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Last week, the Wall Street Journal reported that Robinhood is in talks with Crypto.com about adding the crypto exchange's prediction market contracts to the brokerage's app.

Meanwhile, legal uncertainty continues to cast a shadow over the prediction market sector. Over a dozen state regulators continue to challenge the platforms' ability to offer sports-related markets, while the CFTC maintains that it holds exclusive federal jurisdiction over event contracts.