Gemini wins CFTC clearinghouse approval as it deepens prediction market push
Crypto Briefing
Gemini has received CFTC approval to operate its own clearinghouse, enabling deeper expansion into prediction markets and derivatives.Summary
The US Commodity Futures Trading Commission has granted Gemini approval to operate an independent derivatives clearinghouse, allowing the exchange to clear and settle trades internally. This move aims to enhance operational efficiency and speed as the company expands its prediction market and event contract offerings. Co-founder Cameron Winklevoss emphasized that this vertical integration is a long-term strategy to reduce reliance on spot crypto trading and diversify into new asset classes like equities, despite ongoing regulatory scrutiny regarding the classification of prediction markets.
(Source：Crypto Briefing)