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Gemini Gets Green Light for Prediction Markets
11 Dec
Summary
- Gemini Space Station Inc. received regulatory approval for a derivatives exchange.
- This approval allows Gemini to enter the growing prediction markets industry.
- US customers will soon trade event contracts via Gemini's platforms.
Gemini Space Station Inc. announced on Wednesday that it has received approval from the Commodity Futures Trading Commission (CFTC) to establish and operate a derivatives exchange. This regulatory milestone positions Gemini to compete within the burgeoning prediction markets industry, a field experiencing substantial growth.
The approval signifies a strategic expansion for Gemini, co-founded by the Winklevoss twins. The company has previously indicated interest in trading various forecast-based products, including those related to economic, financial, political, and sports events.
Following this regulatory clearance, Gemini plans to make event contracts available to its existing US customer base. These contracts will be accessible through both the company's website and its mobile application, signaling an imminent launch of this new trading avenue.
