Gemini stock soars premarket after US prediction markets license approval
Gemini stock surged premarket after receiving CFTC approval to operate a derivatives exchange.Summary
Shares of Gemini Space Station (GEMI) jumped approximately 15% in premarket trading after the company secured approval from the Commodity Futures Trading Commission (CFTC) to operate a derivatives exchange. This regulatory green light allows Gemini, founded by the Winklevoss twins, to diversify its offerings by entering the prediction markets sector. The company intends to let US customers trade event contracts covering economic, financial, political, and sports forecasts. Furthermore, Gemini is considering expanding its derivatives offerings to include crypto futures, options, and perpetual contracts. Gemini stock had previously opened around $37 on Nasdaq in September but had since declined by 69% amid a general downturn in crypto-focused equities.
(Source：Crypto Briefing)