What did the CFTC approve for Gemini Space Station Inc.?

The CFTC approved Gemini's application for a derivatives exchange.

Who are the co-founders of Gemini?

Gemini was co-founded by billionaire twin brothers Tyler and Cameron Winklevoss.

What new products will Gemini offer?

Gemini will soon allow customers to trade event contracts on economic, financial, political, and sports forecasts.

Home / Business and Economy / Gemini Gets Green Light for Prediction Markets

Gemini Gets Green Light for Prediction Markets

11 Dec

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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 Gets Green Light for Prediction Markets

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.