Cryptocurrency Exchange <a href="https://gemini.com">Gemini</a> Granted Entry into Prediction Market Space

BlockBeats News, December 11, the cryptocurrency exchange platform Gemini Space Station, Inc. (stock code: GEMI) has been approved to enter the prediction market field.

It is reported that Gemini received approval from the U.S. Commodity Futures Trading Commission (CFTC) this Wednesday to operate a Designated Contract Market (DCM). The prediction platform is named Gemini Titan and will initially launch classic binary event contracts, which are "simple yes/no questions about future events."

Gemini stated that in the future, the platform may expand to other derivatives markets regulated by the CFTC, such as cryptocurrency futures, options, and perpetual contracts.

According to the disclosure, Gemini first applied for the DCM license as early as March 10, 2020. However, the application at that time did not explicitly state that Gemini intended to launch a prediction market platform. (A Designated Contract Market is the term for most trading platforms registered and regulated by the CFTC.)