Cryptocurrency exchange Kraken has confirmed its US$100 million acquisition of Commodity Futures Trading Commission-licensed contract market Small Exchange signals an interest in entering the prediction markets space.
Kraken announced the acquisition [October 16], saying it would expand its global trading infrastructure and pave the way for a fully US-native derivatives offering.
Shortly after the announcement, a spokesperson confirmed to COMPLETE iGAMING that the business was interested in the growing prediction market space in the US.
The deal, finalized with online trading provider IG Group, enables Kraken to establish a fully US-native derivatives platform under federal oversight, encompassing spot, futures, and margin trading.
