Gemini nabs US license to offer prediction markets

Gemini, the crypto exchange founded by the Winklevoss twins, announced that its affiliate, Gemini Titan, has obtained a designated contract market license from the Commodity Futures Trading Commission (CFTC). This approval allows Gemini to enter the prediction markets space in the US, enabling users to trade event contracts on its web platform shortly. The company also intends to expand its US derivatives offerings to include crypto futures, options, and perpetual contracts. Gemini CEO Tyler Winklevoss noted that the exchange first applied for the license in March 2020, calling the approval the culmination of a five-year process. Cameron Winklevoss, Gemini's president, believes prediction markets could eventually rival traditional capital markets. The news caused Gemini's stock (GEMI) to jump 13.7% in after-hours trading.

(Source：Cointelegraph)