Chiliz Eyes U.S. Return Ahead of 2026 FIFA World Cup, Meets With SEC

Sports-focused blockchain company Chiliz is preparing for a potential return to the U.S. market, signaling renewed ambitions amid shifting regulatory tides and upcoming global sporting events.

According to a public log released by the U.S. Securities and Exchange Commission (SEC), Chiliz representatives met with the agency on April 22 to present a draft no-action letter and discuss a framework for re-entry. The meeting included participants from The Digital Chamber and Zuber Lawler LLP, alongside SEC officials.

$50M–$100M Investment Plan

Chiliz proposed an investment of between $50 million and $100 million as part of its U.S. comeback strategy, which it aims to complete before the 2026 FIFA World Cup. The tournament is scheduled to be hosted by the U.S., Canada, and Mexico—providing an opportunity for Chiliz to re-engage with the U.S. market at a major moment in global sports.

The company emphasized that its blockchain-based fan tokens, used to provide sports fans with voting rights and exclusive experiences, should not be classified as securities. In the meeting, Chiliz requested guidance on how to operate legally within the U.S. and presented arguments differentiating its tokens from traditional investment products.

CEO Alexandre Dreyfus was also photographed meeting with Bo Hines, executive director of the Trump administration’s Council of Advisors for Digital Assets, suggesting that talks may extend beyond the SEC and into broader regulatory channels.

Fan Tokens and U.S. Sports Teams

Chiliz had previously established agreements with 13 NFL and 27 NBA teams but paused those partnerships amid regulatory uncertainty following its exit from the U.S. in early 2023. According to company representatives, several U.S.-based sports teams are now reconsidering fan token initiatives—contingent on a clearer regulatory framework.

The meeting coincides with a broader shift at the SEC. Under new Chair Paul Atkins, the agency has shown signs of a softened approach to crypto. Ongoing enforcement actions against companies like Uniswap and Kraken were recently dropped, while public forums on digital asset regulation have begun to take place.

Challenges and Market Conditions

Despite its global partnerships with top-tier clubs like FC Barcelona, Paris Saint-Germain, and AC Milan, Chiliz has faced a steep decline in activity. According to DefiLlama, the protocol’s total value locked (TVL) has dropped from $17.8 million in December 2024 to $6.5 million this week. Its native token, CHZ, is down 67% over the past year.

Chiliz previously invested $80 million into its U.S. operations in 2021, but the fallout from the FTX collapse and lack of regulatory clarity led to a strategic retreat the following year.

What Comes Next

As regulatory sentiment appears to shift under the new SEC leadership, Chiliz’s re-entry could be one of the first high-profile crypto revivals in the U.S. market. Whether the SEC offers a no-action letter remains to be seen, but the company’s willingness to engage publicly and invest heavily suggests it’s preparing to re-establish a presence.

With the 2026 World Cup on the horizon and U.S. sports leagues showing renewed interest, the next few months may prove pivotal for both Chiliz and the broader SportsFi sector.

What It Means For You [NFA]

f you’re a U.S.-based sports fan or crypto enthusiast, Chiliz’s potential return could mean new ways to engage with your favorite teams through blockchain-based fan tokens. These tokens might offer voting rights, exclusive experiences, or rewards—depending on how the regulatory framework evolves. For traders, renewed access to CHZ and related assets on U.S. platforms could bring liquidity and fresh market dynamics. As always, stay cautious: the regulatory landscape is still shifting, and token utility may vary by jurisdiction.

Community Reaction

While most of the community was happy at the opportunity and prospect of $CHZ coming back to the US, some people were pointing out the current flaws in the workings of the project and demanding for those issues to be solved first.

• Allitrd: “What a massive news for chz”
• blackrock: “Save your holders first”
• TBone76: “Yes, but will it be with NHL, MLB, NFL, or NBA?”