The crypto exchange plans to file an application with the CFTC in August, competing with Kalshi and Polymarket. The license would allow it to trade “futures or options contracts” based on any underlying commodity, index, or instrument. Binance would also be required to comply with 23 conditions, including safeguards, record-keeping, and conflict-of-interest mitigation. Binance will also launch gold- and silver-settled options in USDT through its exchange regulated in Abu Dhabi. Retail users will be able to trade options, while institutional clients and liquidity providers will be able to enter into contracts. Previously in the US, Gemini obtained a CFTC license, and Coinbase reached an agreement with Kalshi to create prediction markets.