In this report for the U.S. Department of Energy, we studied the development of natural gas as a commodity in order to predict how a hydrogen market will form in the United States. The report finds that the volume of natural gas futures traded and the development of natural gas hubs were significant drivers in the development of natural gas as a commodity. As such, we conclude that the creation of spot markets and standardized long-term commodity contracts and the listing of hydrogen can be significant drivers in the development of a robust hydrogen infrastructure in the United States.