UK-based betting exchange Smarkets has applied for Designated Contract Market (DCM) and Designated Clearing Organization (DCO) licenses from the U.S. Commodity Futures Trading Commission (CFTC). The move marks Smarkets' intention to enter the U.S. prediction market sector. Founded in 2008, Smarkets is the second-largest betting exchange in the UK, with a lifetime trading volume of approximately $50 billion and an annual volume of around $3 billion. The company is currently profitable and aims to launch its U.S. operations by the end of 2026, pending regulatory approval.