Gemini Receives CFTC Approval to Operate Designated Contract Market for U.S. Prediction Markets

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Source: CryptoNewsNet Original Title: Gemini Approved by CFTC to Offer U.S. Prediction Markets, Stock Surges Nearly 14% Original Link: https://cryptonews.net/news/market/32120368/ Gemini Space Station, Inc. (GEMI) announced that its affiliate Gemini Titan, LLC has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate as a Designated Contract Market (DCM), enabling the firm to offer regulated prediction markets to U.S. customers.

Gemini first applied for a DCM license on March 10, 2020. The approval marks the conclusion of a five-year licensing process and represents a significant milestone for the exchange’s expansion into regulated derivatives markets.

“Today’s approval marks the culmination of a 5-year licensing process and the beginning of a new chapter for Gemini,” said CEO Tyler Winklevoss. He acknowledged the regulatory progress and praised the advancement of clearer crypto policy frameworks in the United States, noting the importance of establishing a more crypto-friendly regulatory environment.

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